Oil hits highest level as supply tightens

Brent has closed at highest since October 2018, driving NY ULSD futures to hit their highest up in almost three years
U.S. oil/gas rig count has also risen for 14th month according to Baker Hughes, so, for a third successive week, oil prices have risen to a near three-year high on Friday as global output disruptions are forcing energy companies to pull large amounts of crude out of their inventories.
Western Texas Intermediate crude oil is climbing for the fourth day in a row, surging almost 1%, trading at USD 73.86.
The market sentiment is quiet. Major global equity indices closed with losses, with the exception the Japanese Nikkei and Topix, which reported gains of 2.06% and 2.31%. Meanwhile, as the New York session progresses, the S&P 500, the Dow Jones, and the Nasdaq record losses are between 0.01% and 0.25%.