Oil prices extend gains on tight supply, firm demand expectations

Oil prices have risen to their highest level in 7 years, supported by tight supplies but also by the prospect of rising demand from the start of the summer driving season in the United States, which is the world's biggest crude consumer. Global crude supplies continue to tighten as buyers avoid oil from Russia, amid sanctions following its attack on Ukraine. But the crude supply situation is also tightening in the US ahead of the three-day, Memorial Day weekend, which is expected to be the busiest in two years.

For more on the oil market, AJ Bell's Danni Hewson joined us from the UK.

#OilPrices #OilMarket #MemorialDay


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