Oil Prices Rise on Trade Talk Extension

  Published 1 year 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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