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 Zimbabwe Faces Deflation with New ZiG Currency READ MORE Injecting New Life into the World’s Deepest Mine READ MORE Facing Facts: ‘Cautiously Bullish’ on Gold in 2024 READ MORE BRICS Nations' Gold Rush: Safeguarding Economies Against US Recession Fears READ MORE Gold Continues to Defy Expectations Despite Market Downturns READ MORE Add a Comment Cancel replyYour email address will not be published.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