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Oil prices rise above $100 as disruptions and falling inventories tighten markets

  • Oil prices rose above $100 per barrel amid global energy-market disruptions.
  • Prices exceeded $100 despite previous strategic reserve releases and declining inventories.
  • EIA and OPEC issued differing forecasts while a modest surplus was expected.

Oil prices have climbed above $100 per barrel as continuing disruptions in the global energy market coincide with declining inventories. The move has occurred despite previous strategic reserve releases. Forecasts from the EIA (U.S. Energy Information Administration) and OPEC differ, although both market outlooks include expectations of a modest surplus.

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