Reported 8 months ago
Oil prices edged up as optimism for increased demand during the summer driving season in the northern hemisphere countered negative Chinese data revealing a slow recovery for the largest crude importer. Despite disappointing data, including a drop in US consumer sentiment, Brent crude futures rose by 0.4% to $82.95 a barrel, and US West Texas Intermediate crude futures gained 0.3% to $78.70. The market also received support from Saudi Arabia's readiness to adjust OPEC+ output increases based on prevailing conditions and efforts to enforce production quotas.
Source: YAHOO