Oil jumped more than 3% on the prospect of lower US weekly inventories

International benchmarks for crude oil jumped more than 3% on Tuesday, 23 August 2022 on the prospect that commercial crude inventories in the US would register another week of decline. Meanwhile, the supply outlook once again is threatened after OPEC+ floated the idea that the group of producers would adjust operating rates to balance the demand if Iranian oil returns to the market.

Brent added $3.74 or 3.9% to close at $100.22/barrel. 

WTI jumped $3.38 or 3.7% to settle at $93.74/barrel.