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7/1, 1:16 PM (Source: TeleTrader)
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WTI passes $75 mark ahead of OPEC+ meeting

Oil prices extended gains on Thursday, with the West Texas Intermediate surpassing the $75 threshold and reaching a level last seen in October 2018.

The investors were focused on the meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known together as OPEC+, and on a potential supply restriction easement it could bring.

Brent for September settlements soared 2.08% to $76.13 per barrel at 7:05 am ET. At the same time, West Texas Intermediate futures for delivery in August surged 2.4% to $75.24 per barrel.

Breaking the News / BU