Analysts link the latest surge with dwindling crude inventories at a key storage hub in the US Global oil prices edged closer to $100 a barrel on Thursday amid a drop in stocks at a key storage facility in the US, amplifying concerns of tightening global supplies. Brent futures climbed 1% to $97.25 a barrel at 11:00 GMT, while US West Texas Intermediate crude (WTI) futures briefly touched $95 per barrel, the highest since August 2022. Analysts link the latest surge in oil prices with the news from the strategic storage hub in Cushing, Oklahoma, where stocks fell by 943,000 barrels in the fourth week of September d
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