INSUBCONTINENT EXCLUSIVE:
The market reacted to the expected spike in summer fuel demand.This uptick occurs amidst a robust United States dollar and the Federal
High rates have since lifted borrowing costs
This shift could dampen economic growth and curb oil demand.Also, a vigorous United States dollar might depress oil demand, as it renders
dollar-priced commodities pricier for foreign currency holders.Brent crude futures rose $2.01, or 2.5%, closing at $81.63 per barrel
Meanwhile, United States West Texas Intermediate (WTI) crude climbed $2.21, or 2.9%, to $77.74.Oil Prices Fall Amid Middle East Tensions
They affect everything, from the cost of goods to geopolitical stability.When oil prices rise, inflation often follows, impacting everyday
geopolitical factors that set these prices is crucial for understanding global market trends.
