Oil prices extended their gains today, Monday, to touch their highest levels since mid-April.
And by 0023 GMT, Brent crude futures rose 25 cents, or 0.3 percent, to $ 86.49 a barrel, while West Texas Intermediate crude futures rose 23 cents, or 0.3 percent, to $ 83.05 a barrel.
The two raw materials recorded gains for the sixth consecutive week last week, which is the longest period of gains since December 2021 and January 2022.
Prices have received support thanks to several factors in the past few weeks, including expectations of a reduction in the pace of US interest rate hikes, a reduction in OPEC + supplies, and hopes to stimulate a recovery in oil demand in China, the largest importer of crude in the world, after a slump in the second quarter.
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