Brent Passes $80 Amid Middle East Tensions and Positive U.S. Data ...Middle East

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Brent Passes $80 Amid Middle East Tensions and Positive U.S. Data
source : OILPRICE ( Middle East ) () 44
Heading for the fourth consecutive days of gains, oil prices continued to trade up on Monday, with the U.S. crude benchmark gaining well over 2% buoyed by consistent escalation of conflict in the Middle East, and despite OPEC’s lowering of its global demand growth forecast earlier in the day.  At 11:57 a.m. ET on Monday, WTI was trading up 2.26% at $78.58 per barrel, while Brent crude was trading up 1.81% at $81.10.  Oil prices are also being driven upwards by new U.S. economic data, which has worked to dampen fears of a recession. …

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