Solid outlook for fuel demand pushes oil prices up
Both oil contracts are on track for a second monthly gain as analysts expect oil demand growth to outstrip supply
31 May 2021 - 15:45
London — Oil prices firmed on Monday, with Brent trading near $70 a barrel, underpinned by the bright outlook for fuel demand growth in the next quarter, while investors looked ahead to the Opec+ meeting this week to see how producers will respond.
Brent crude futures rose 69 US cents, or 1%, to $69.41 a barrel by 9.55am GMT, after reaching a session high of $69.82. US West Texas Intermediate crude was at $67 a barrel, up 68c, or 1%...
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