From Investing.com: 2024-05-06 07:05:32

Oil futures rose on Monday as Saudi Arabia increased crude prices for June and fears of a Gaza conflict escalation lingered. Brent crude was up 0.9% at $83.73 a barrel, while WTI crude was at $78.98, up 1.1%. Last week saw the biggest weekly drop in three months due to weak U.S. jobs data and Fed rate cut speculation. Geopolitical tensions eased briefly with Gaza ceasefire talks, but Hamas demands and Israeli military moves raised concerns. China’s growing services activity also supported oil prices, signaling a potential economic recovery.



Read more at Investing.com: Oil climbs as Gaza tensions rise, Saudi Arabia hikes prices By Reuters