Oil prices rise with the possibility of increased demand and supply problems

Oil prices rose during prime trading on Monday, with investors weighing the possibility of a near-term increase in demand amid fears that US monetary tightening could lead to a recession.

THE future on Brent crude for August delivery, they increased by 0.55%, or 62 cents, to 113.74 dollars a barrel.

US crude oil futures for July delivery also rose 0.39%, or a value of 43 cents, to $ 109.99 a barrel, knowing that US markets are today. in official holiday.

And US Secretary of Energy Jennifer Granholm, in an interview last weekend with CNN, warned drivers in the United States that gasoline prices could continue to rise.

“We know this is going to be a tough summer as the driving season has just started and we know there will be a steady increase in demand,” he said.

For her part, analyst firm Vanda Insights founder Vandana Hari said that despite economic fears that have plagued broader financial markets since the US Federal Reserve raised interest, supply concerns will continue. to drive up oil prices as long as the war in Ukraine continues, as quoted “Bloomberg”.

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