Oil Rallies as Inventories Disappoint

US light crude for May delivery spiked $4.18 to $105.40 a barrel after a weaker than expected inventory report said that crude supplies remained unchanged. Analysts were looking for an increase of 1.7 million barrels and when the report crossed the wire, prices surged.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.