The price of US crude jumped more than 14 percent in the Asian markets on Wednesday morning, recording more than $ 14 a barrel, in the wake of heavy losses due to the sale of a tradable investment fund on the exchange, its short-term oil contracts, amid growing concerns about the excess supply and shortage in Storage capacity.
The price of "West Texas Intermediate" crude, which is also called "sweet light oil" and is a reference in the pricing of American raw materials, increased by 14.2 percent in the Asian morning trading session, to reach 14.09 dollars per barrel.
And US crude prices ended the session Tuesday, about three percent lower after data showed that crude stocks did not rise as expected due to a lack of storage capacity, despite pledges to cut production from May 1.