Oil Prices Climb Amid Favorable Market Conditions and Supply Concerns Oil prices edged higher on Monday, supported by rising equity markets and a weaker US dollar. West Texas Intermediate crude hovered around $81 per barrel, recovering from Friday’s decline. The softer dollar made dollar-denominated commodities more attractive to investors. Despite recent fluctuations, crude remains on track for a monthly gain, driven by increasing gasoline demand in the US and robust air travel volumes. The market structure indicates tightening supply, while geopolitical risks in the Middle East continue to influence price movements. Analysts remain optimistic about the oil market, expecting a deficit in the third quarter to further tighten the balance. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Investor Confidence Shifts: A Closer Look at the 'No Landing' Economic Forecast READ MORE World Gold Council Podcast — Unearthed: Gold in technology throughout the ages READ MORE BullionStar In the News – Mediacorp Channel 8 April 17th, 2024 READ MORE Costco Offers Gold, But Reselling Proves Challenging READ MORE Dollar Strengthens Ahead of Crucial Economic Indicators, Bank of Canada Meeting READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment