WTI crude oil surged for the fifth consecutive session, breaking above its December high, as optimism over global demand fueled bullish sentiment. Prices settled at $82.34 per barrel, marking a 1.8% increase for the day. This rally reflects growing confidence in the global economy’s resilience, with improving manufacturing data in major economies further supporting crude’s upward momentum.
Source – FXStreet
Analysts suggest the sustained price rise indicates robust demand expectations amid tighter market conditions. Geopolitical tensions and production cuts by major oil producers also contribute to the bullish trend. If this momentum continues, WTI crude could aim for its highest levels since mid-2024, reinforcing its role as a key barometer for economic activity.
