Oil futures were climbing on Thursday, with U.S. crude hovering at its highest in about 3-1/2 years as supply disruptions continue to support the market.
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Also, President Trump once again took to Twitter to call out the Organization of Petroleum Exporting Countries (OPEC) for the high oil prices.
The oil market has been supported by a fall in output from Venezuela and the potential for a halt of Iranian oil exports due to U.S. sanctions. OPEC reached an agreement in June to increase output, but this did little to stop the rise in oil prices.
A supply outage in Libya is adding extra upside support.
Meanwhile, oil prices could see increased movement on Thursday when the U.S. Energy Information Administration releases its latest weekly inventory report.
