Brent rises to near $70 on demand prospects and ahead of OPEC+ meet

SINGAPORE: Oil prices rose on Tuesday ahead of an OPEC+ meeting and on optimism that fuel demand will grow in the months ahead with the summer driving season starting in the United States, the world’s top oil consumer.

Brent crude futures for August gained 56 cents, or 0.8%, to $69.88 a barrel by 0125 GMT. U.S. West Texas Intermediate crude for July was at $67.33 a barrel, up $1.01, or 1.5% from Friday’s close, with no settlement price for Monday due to a U.S. public holiday.