Crude Oil Prices Experience Significant Rise

Crude oil prices witnessed a substantial increase on Tuesday, soaring over 2% as demand expectations grew. This surge was closely tied to the recovery of major stock markets in the United States, bouncing back from a recent selloff. Investors are also closely analyzing the latest OPEC+ report, which highlighted a production decline of 37,000 barrels per day in March.

Price Movements Highlighted

West Texas Intermediate (WTI) for June deliveries saw a notable climb, increasing by 2.63% to $64.01 per barrel by 1:57 pm ET. Similarly, Brent crude for June settlements advanced by 2.22%, reaching $67.74 per barrel at the same time.