Oil prices lifted by storm, U.S. inventory data ahead of OPEC+ meeting

Oil futures rose Wednesday morning, lifted by a storm disrupting crude shipments on the Black Sea and industry data pointing to a fall in U.S. crude inventories as traders await a meeting of OPEC+ producers previously delayed by disagreements over production levels.

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Russia’s transportation ministry said Wednesday that Black Sea weather conditions remained unfavorable for shipping and that restrictions would remain in place, Reuters reported. A severe storm in the region has disrupted…