Concerns about supply after a significant drop in U.S. stock values cause oil prices to increase by 2%
Oil prices increased by about $2 in early trade on Wednesday as industry data revealed a larger-than-anticipated draw in U.S. oil storage and concerns about Middle Eastern supply disruptions as a result of the escalating Israel-Hamas war. The price of Brent crude futures increased $1.62, or 1.8%, to $91.49 a barrel as investors prepared for…