Oil Prices Near $80 On Tight Global Supply

Oil prices rose early on Monday, extending Friday’s gains, with Brent nearing $80 and WTI Crude exceeding $75 per barrel as global oil and energy markets continue to tighten. As of 7:59 a.m. EDT on Monday, Brent Crude was up by 1.40% at $79.24, and the U.S. benchmark, WTI Crude, traded at $75.02, up by 1.41% on the day, as supply tightens and global energy prices rally ahead of the winter season in the northern hemisphere. Oil demand is recovering from the Delta variant faster than expected, but supply is not catching up fast enough, analysts…