Oil Prices Surge as Geopolitical Risk and Crude Demand Both Rise

Crude Oil Market: Key Drivers Behind This Week's Price Surge Light crude oil futures have climbed 2.12% this week, driven by a mix of bullish factors. Geopolitical tensions in the Middle East, an unexpectedly large draw in U.S. crude inventories, and optimistic forecasts for summer fuel demand have all contributed to pushing prices higher. As traders assess these developments against the backdrop of OPEC+ supply management and steady U.S. production growth, the oil market remains finely balanced between supply constraints and recovering demand.…