U.S. Crude Benchmark Pops 2.5% on Summer Demand, Geopolitics

Oil prices jumped nearly 2.5% on Monday, reaching their highest since April as geopolitical tensions boost supply and demand sentiment despite economic and interest rate uncertainty, and as the summer driving season kicks off in earnest, sparking hopes of higher consumption.  On Monday at 4:20 p.m. ET, West Texas Intermediate (WTI) was trading up 2.35% at $83.46, while Brent crude was up 2.05% at $86.74.  Summer demand optimism is being further buoyed by OPEC+ supply cuts, which were extended in early June, with plans to only…