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Brent crude futures for August rose 83 cents to $70.15 a barrel, and WTI for July rose to $67.61. Gains reflected optimism about US summer fuel demand and stronger Chinese factory activity in May.
Gains were capped by expected OPEC+ output increases.
Strong summer fuel demand expectations support crude prices, though planned OPEC+ supply increases limit the upside for energy costs facing feed producers.
arabnews.comReutersMay 31, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
