Oil market braces for OPEC decisions as crude prices climb
Crude oil prices have remained volatile this year due to geopolitical tensions and an uncertain outlook for global supply and demand. Brent and WTI futures prices peaked at $90 per barrel (bbl) and $87 per barrel (bbl) respectively in early April before pulling back to around $83 per barrel and $78 per barrel currently. In May, oil prices stabilised within a narrow range, with Brent futures fluctuating between $81 bbl and $84 bbl. Year-to-date, both Brent and WTI futures are up by approximately 5%, while the spot markets have shown greater strength, rising by about 10%. Oil prices found some s...