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Oil Prices Surge Over 1% on US Crude Inventories Drawdown, OPEC+ Production Cut Prospects

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[ad_1] Last Updated: May 24, 2023, 23:55 IST The U.S. Memorial Day holiday on May 29 marks the beginning of the peak summer travel season and higher fuel demand. (Image: Reuters File) Brent crude futures rose 90 cents, or 1.2%, to $77.74 a barrel by 12:29 p.m. EDT (1629 GMT) Oil prices rose over 1% … Read more

Oil Prices Rise as Strong Demand Forecasts Outweigh Supply Concerns

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[ad_1] Last Updated: May 23, 2023, 00:57 IST Last week, both oil benchmarks gained about 2% in their first weekly rise in five after wildfires shut in large amounts of crude supply in Alberta, Canada. (Image: Reuters File) Oil prices, however, were held in check by a stronger dollar and as the market waited for … Read more