# Arab News | Brent hits $70 ahead of OPEC+ meet

> 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.

- Date: 2021-05-31 · published 2021-05-31T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/47243-arab-news-brent-hits-70-ahead-of-opec-meet
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Strong summer fuel demand expectations support crude prices, though planned OPEC+ supply increases limit the upside for energy costs facing feed producers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Sources

- arabnews.com: https://www.arabnews.com/business/brent-hits-70-ahead-of-opec-meet-1868296

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.