Overview

• U.S. crude oil prices are set for a fourth straight weekly increase, driven by strong summer fuel demand.
• Crude inventories in the U.S. fell by 12.2 million barrels, signaling higher consumption.
• Hurricane Beryl's impact on the Gulf of Mexico adds to supply concerns, although major oil platforms in Mexico remain unaffected.
• Potential ceasefire talks in Gaza have slightly eased geopolitical tensions, impacting oil prices.
• Analysts forecast Brent crude may reach $90 per barrel in the coming months due to sustained demand and tight supply.