Brent crude futures surged above the $86.5 per barrel mark, while WTI crude futures climbed above $83.5 per barrel. This trajectory is driven by robust summer demand expectations and ongoing Middle East tensions, raising supply disruption concerns.
Hurricane Beryl's impact on sentiment and uncertainties regarding oil production disruptions added market volatility. Forecasts of increased US travel demand and stable inflation data further bolstered bullish oil prices amidst economic uncertainties.
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