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 "You're Going To See Something More Devastating Than 2000 or 2008" – Mike Maloney READ MORE U.S. Job Surge Puts Pressure on Fed's Inflation Strategy READ MORE Gold and Bitcoin Surge: Signals Time for a New Gold Standard? READ MORE Fed Chair Powell: Labor Market 'Fully Back in Balance' READ MORE Trump Warns Fed Against Pre-Election Rate Cuts, Hints at Conditional Support for Powell READ MORE Add a Comment Cancel replyYour email address will not be published.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