Reported 5 months ago
Oil prices rose with Brent futures surpassing $83 a barrel after a decline last week, as OPEC+ prepares for a policy meeting and US demand during the summer driving season gains attention. Geopolitical tensions in the Middle East and expectations of extended production cuts further supported prices. The Memorial Day weekend in the US is expected to provide insights into demand trends, with strong flight activity and gasoline demand anticipated. Brent has seen an 8% increase this year due to geopolitical risks and OPEC+ production cuts.
Source: YAHOO