Oil jumps toward $70 as U.S.-Iran tensions outweigh surprise crude stock build
Brent crude rose 1.77% to $70.02 a barrel and U.S. WTI climbed 1.89% to $65.17 on Wednesday, lifted by U.S.-Iran tensions despite an 8.5 million barrel surge in U.S. crude inventories. President Trump said he may send a second carrier to the Middle East as talks with Iran continue. OPEC projected lower demand for its crude in the second quarter. Traders await the IEA’s update Thursday and U.S. inflation data Friday.
