Oil Prices Show Resilience Amid Surging U.S. Gasoline Demand and Global Market Dynamics

Crude oil prices maintain upward momentum as U.S. gasoline consumption hits post-pandemic highs, with geopolitical tensions and inventory shifts adding complexity.

U.S. crude oil is set for its second consecutive weekly gain, buoyed by record gasoline demand and summer travel expectations.
Brent crude futures have also risen, supported by declining inventories and increased global consumption.
Analysts predict further tightening of the oil market due to seasonal demand, geopolitical risks, and OPEC+ production cuts.
U.S. gasoline consumption reached 9.4 million barrels per day, the highest since the pandemic, driving up prices at the pump.
Market forecasts suggest Brent crude could reach $90 per barrel by September as inventories draw down.