NEW YORK: Oil prices settled higher on Tuesday, with Brent hitting above $71 and trading at its highest since March, on expectations for growing fuel demand during the summer driving season in the United States as OPEC+ agreed to boost output.
Brent crude futures for August settled up 93 cents, or 1.3%, to $70.25 a barrel after hitting $71 earlier in the session – its highest intra-day price since March 8.
U.S. West Texas Intermediate crude for July was up $1.40, or 2.1%, to $67.72.
