On Monday, global oil markets made small gains. Brent crude rose to $67.07 per barrel, and U.S. WTI rose to almost $63.02. Investors are still worried about geopolitical tensions. Crude futures went up because of higher risks from Ukraine, where new Russian airstrikes have hit energy infrastructure, and instability in the Middle East.
Analysts say that any problems with supply routes could make prices go up even more, especially since OPEC+ is keeping production steady. Traders said that even though the rise was small, the geopolitical situation is still the biggest factor affecting market sentiment. The cautious rally shows that people are worried about demand in economies that are slowing down and the ongoing threat of supply shocks in areas that are at war.
