Oil Prices Poised for Strongest Weekly Gain in Months

Analysts attribute the surge to anticipated supply deficits and robust demand forecasts.

Crude oil futures have risen over 4.5% this week, marking the best performance since early April.
West Texas Intermediate (WTI) and Brent crude prices have both seen significant increases, with WTI up 10% year-to-date.
OPEC's forecast for strong global oil demand in 2024 supports current price levels.
Geopolitical tensions, particularly on the Israel-Lebanon border, remain a concern for the market.
Analysts predict Brent prices could reach $90 per barrel in the second half of the year.