Oil prices rose in Asian trading on Tuesday, extending the previous session's gains and supported by expectations of strong fuel demand from the United States during the summer, ahead of the expected production policy decision at the OPEC Plus alliance meeting scheduled for June 2.
July Brent crude futures rose 21 cents to $83.31 a barrel. The most active August contract also rose 21 cents to $83.09. U.S. West Texas Intermediate crude futures for July rose $1.18, or 1.52 percent, to $78.90.
Oil prices rose more than one percent on Monday, in quiet trading due to a public holiday in Britain and the United States, after a pessimistic week clouded by expectations of U.S. interest rates in the face of flat inflation.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
