U.S. Oil Price Hits Highest Level In 13 Months

The benchmark U.S. oil price rose early on Thursday to the highest level since August 2022, extending Wednesday’s surge as U.S. commercial inventories continue to decline more than expected. WTI Crude prices exceeded $95 per barrel in early Asian trade on Thursday, hitting the highest price level in 13 months. The international benchmark, Brent Crude, also jumped and touched a new high for 2023 after topping $97 per barrel. Despite the continued strengthening of the U.S. dollar, oil rallied on Wednesday and early on Thursday in Asian trade…