Oil prices were higher today, climbing about 2% to almost three month highs. Both contracts had their highest close since mid April and are in technically overbought territory. Bob Yawger, director of energy futures at Mizuho Bank, said a move above the 200-day moving average “generally stops out the speculative shorts and attracts traders looking for new entry points.” Both crude benchmarks have already climbed for four weeks in a row with supplies expected to tighten due to cuts from OPEC+. WTI traded up $1.67 or 2.1% to close at $78.74. Brent traded up $1.67 or 2.1% to close at $82.74.