Oil jumps to 2023 highs amid low tank levels at US storage hub

Oil futures hit a 2023 high on Wednesday after inventories at the largest storage hub in the US fell toward levels nearing operational minimums. West Texas Intermediate (CL=F) jumped more than 3% to trade above $93 per barrel following a drop in stockpiles to just below 22 million barrels at the Cushing, Oklahoma hub. The facility is seen as influential to where oil prices are trading. Brent (BZ=F) International futures also rose on Wednesday, trading more than 2% higher to just above $96 per barrel. The rise in prices has fueled speculation of $100 per barrel oil in the coming…