Oil Prices Hold Gains Amid Geopolitical Uncertainty and Demand Optimism

Crude oil prices today held on to earlier gains made this week that pushed them to the highest in almost two months as fears of a further escalation of violence in the Middle East and expectations of robust demand in the U.S. sparked optimism among traders. Brent crude remained above $86, inching closer to $87 per barrel, while West Texas Intermediate was above $83 per barrel at the time of writing. On Monday, prices jumped by 2.5%, pushed higher by summer driving season demand expectations. However, speaking to Reuters, oil analyst…