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Oil prices on pace for best week in more than two months as forecasts point to tighter market

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Oil prices are up more than 4.5% for the week, the strongest gains since early April.

Oil remains well below annual highs set in April but has regained ground after a sell-off last week pushed prices to four-month lows.Crude oil futures rose for a fifth day Friday, on pace for the best week in more than two months as analysts see a tighter market heading into the third quarter.

Oil remains well below annual highs set in April but has regained ground after a sell-off last week that pushed prices to four-month lows after a decision by OPEC+ to increase production later this year Deutsche sees the oil supply deficit expanding to nearly 1 million barrels per day in the third quarter, which should support Brent prices rising to the mid-to-upper $80s per barrel range.

 

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Oil prices on pace for best week in more than two months as forecasts point to tighter marketOil prices are up more than 4.5% for the week, the strongest gains since early April.
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