Crude oil prices rebounded on Friday morning in Asia after reports that Israeli missiles had struck a site in Iran, sparking concerns that Middle East oil supply could be disrupted. The commodity dropped to a three-week low in the previous session. Oil tanked more than 3% yesterday as the US EIA data showed 2.735 million barrel increase in crude inventories last week compared with a significant build of 5.8 million barrels for the previous week. Cushing oil inventories increased by 0.033 million barrels, contrasting with the previous week?s decrease of 0.17 million barrels. WTI crude oil futures jumped back by over 3% this morning and are currently quoting at $84.84 per barrel.
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