Oil prices rise on demand, Middle East tensions, hitting $87.79

CNBC April 2, 2024, 06:00 AM UTC

Summary: Oil prices rose in Asian trading due to increased demand and Middle East tensions. Brent futures hit $87.79 a barrel, while WTI crude futures reached $84.03. Strong U.S. and Chinese manufacturing data boosted prices. Analysts predict U.S. futures could reach the mid-$90s if they break $84.00. An Israeli strike in Syria escalated Middle East tensions. OPEC will review output cuts in an upcoming meeting.

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