US Crude Aims for $90 as Supply Deficit Fears Confirmed in EIA, OPEC Reports

From the EIA to OPEC, industry reports confirm global oil supply deficit fears.

Oil pumpjacks in the Inglewood Oil Field in Los Angeles, Calif., on Jan. 28, 2022. Mario Tama/Getty Images

U.S. crude oil prices headed toward $90 a barrel in the middle of the trading week after three major industry reports verified supply deficit concerns.

West Texas Intermediate (WTI) crude futures firmed above $89 per barrel on Sept. 13 on the New York Mercantile Exchange, adding to their year-to-date gain of nearly 11 percent. Over the last three months, the U.S. benchmark has soared about 30 percent.