Crude Oil trades higher for a fourth consecutive day on Thursday, jumping to $70, after a 2.5% price increase on Wednesday.
Oil prices increase for a fourth straight day this week. The EIA report on Wednesday revealed Cushing Crude Supply fell to a seven-year low. The US Dollar Index trades lower as the focus shifts to the European Central Bank interest-rate decision. The surge came after the weekly report from the Energy Information Administration revealed that US stockpiles at Cushing plunged to just 22.9 million barrels, the lowest level since 2007.
refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
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