A tight market and macro optimism is driving crude oil prices higher. Forget about geopolitical risk premiums

Brent crude reaches highest level since October 2023.

Brent crude ended last week at USD 87. 48/b.

The highest close since October last year.

Ydy it traded in a range of USD 86.

4 – 87.

98/b but closed slightly below that level the pre-Eastern closing level at USD 87.

42/b.

This morning it is kicking off on a strong.