Oil Prices Rise on Trade Talk Extension

  Published 10 months ago

Oil prices increased Monday due to extended US, EU trade talk deadlines, easing economic concerns. Gains were tempered by potential OPEC+ output increases and ongoing supply concerns related to Iran. Rig counts also decreased.

  • US, EU trade talks extension boosted prices.
  • OPEC+ may increase output in July.
  • Falling US rig counts offered some support.

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