September West Texas Intermediate (WTI) crude oil settled higher on Thursday, boosted by strength in Brent crude, which surpassed $84 a barrel for the first time since April. The surge was fueled by supply tightness resulting from production cuts by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+.
These cuts, along with some involuntary outages, have supported the oil market, resulting in four consecutive weeks of gains. Despite Wednesday's drop in oil prices, the overall outlook remains…Bullish Momentum Builds As Oil Markets Tighten
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