Heading for the fourth consecutive days of gains, oil prices continued to trade up on Monday, with the U.S. crude benchmark gaining well over 2% buoyed by consistent escalation of conflict in the Middle East, and despite OPEC’s lowering of its global demand growth forecast earlier in the day. At 11:57 a.m. ET on Monday, WTI was trading up 2.26% at $78.58 per barrel, while Brent crude was trading up 1.81% at $81.10. Oil prices are also being driven upwards by new U.S. economic data, which has worked to dampen fears of a recession. …
