Oil prices had their strongest session in over two months Tuesday, with West Texas Intermediate (WTI) light crude climbing 2% to $80 a barrel, and Brent crude rising 1.7% to $84 a barrel.
The surge in prices is attributed to the anticipation of increased demand with the start of the driving season and ongoing supply constraints. The market expects that OPEC+ will maintain its voluntary output cuts of 2.2 million barrels per day into the second half of the year during its upcoming June 2 meeting.
TheUnited States Oil Fund (NYSE:USO), which tracks the WTI price, rose 3%, factoring in Monday's oil performance while...
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