Oil Prices Are Set for a Second Consecutive Monthly Gain ...Middle East

Crude oil prices are set to post their second monthly gain in a row after a period of losses last year, with traders anticipating an extension of the OPEC+ production cuts. That extension would contribute to a perception of a tightening oil market that has served to keep oil prices elevated for most of the past two months. Brent crude has gained some 2% since the start of February, according to Bloomberg, while West Texas Intermediate has gone from some $72 per barrel at the start of the month to over $78 per barrel as of Wednesday.…

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