Summer Demand Boost and OPEC+ Cuts Drive Oil Prices Higher Oil prices increased on Monday, driven by expectations of peak summer demand and OPEC+ production cuts. Brent crude and WTI futures both rose, continuing their gains from June. Analysts predict supply deficits in the third quarter due to increased transportation and air-conditioning demand. However, rising output from non-OPEC+ producers and caution over potential market volatility ahead of upcoming elections have limited price gains. Investors are also closely watching for upcoming economic indicators, including remarks from the Federal Reserve Chair and U.S. employment data, which could influence market sentiment. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Bill Gross Urges Federal Reserve to Halt Tightening and Slash Rates to Avert Recession READ MORE Metals Close Mixed on Final Trading Day — Gold Up 14% for the Year READ MORE Fed Chair Powell Stresses Patience on Rate Cuts Amid Inflation Battle READ MORE Gold Prices Expected to Rebound as Central Banks Maintain Demand READ MORE NYSE Resolves Software Glitch After Erroneous 99% Stock Drop Displays READ MORE Add a Comment Cancel replyYour email address will not be published.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