During the week’s opening, oil prices rose as investors weighed tight as concerns about global growth were exacerbated by product markets and a weaker dollar.
It has gained for four consecutive weeks, the longest run since February, as West Texas Intermediate climbed toward $111 a barrel.
The prices of gasoline and diesel have risen to records ahead of the start of the US driving season, which begins in about a week. Money managers have also increased their bullish crude bets.
Saudi Arabia signaled at the weekend that it would continue to support Russia’s role in the OPEC+ group of producers, undermining US efforts to isolate Russia for its invasion of Ukraine.
