Crude Oil is trading today in the European session above the $81 level.
Crude oil prices rose on Friday and are set for a second consecutive weekly gain, driven by signs of increasing demand and decreasing oil and fuel inventories in the U.S., the world's largest oil consumer.
Prices have risen approximately 5% since the beginning of the month, reaching their highest level in over seven weeks. The latest EIA data indicates a seasonal rise in demand, and renewed conflict between Israel and Hezbollah, along with the ongoing hurricane season, could sustain price strength throughout the summer.