Oil Prices Surge Amid Geopolitical Tensions, Chinese Demand

Crude oil prices surged on Monday, with a significant gain of 2.36% for February West Texas Intermediate futures, and a 1.19% increase for February reformulated gasoline futures. This rally was driven by the collapse of Ukraine-Russia war talks, increased Chinese energy demand, and geopolitical tensions. Despite OPEC plus pausing production increases, US inventories remain below average, and active oil rigs have risen, contributing to the price hike. Checkout Solipillow.comThe Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.