From Investing.com: 2024-06-11 01:16:00

Oil prices rebounded on Monday, with WTI and Brent futures gaining due to rising summer fuel demand and market sentiments. WTI July contract traded at $76.38/barrel, up 1.1%, while Brent August contract rose to $80.44/barrel, up 1%. RBOB Gasoline and Natural Gas contracts also saw significant increases.

Goldman Sachs predicts Brent crude prices to reach $86/barrel in Q3 with a supply deficit of 1.3 million bpd. UBS notes low long positions in oil and high short positions, anticipating inventory drops and demand increases. Investors are advised to monitor the Federal Reserve meeting and oil market reports for key updates.



Read more at Investing.com: Oil Rebounds, Gaining 6.6% YTD as Investors Eye Fed Meeting and OPEC Reports