Oil prices rallied today on signs of tight supply heading into summer driving season. Equity prices are also rising which sometimes leads crude higher, along with a weakening in the dollar. “Crude prices rose as a tight oil market was going to remain in place given the start of the summer driving season was going to keep a downward trajectory for U.S. stockpiles,” said Edward Moya, senior market analyst at data and analytics firm OANDA. OPEC+ will meet next week and is expected to continue with its plans of modest output hikes. Brent has now been rising for 6 days in a row and closed at its highest level since March 25th. WTI traded up $3.76 or 3.41% to close at $114.09. Brent traded up $3.58 or 3.14% to close at $117.61.

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