Crude Oil remained Bullish as West Texas Intermediate oil briefly rose above $85 a barrel before settling at $84.39/bbl, the first time since October.

Crude Oil prices rose amid Houthi fighters claim of drone strike on the United Arab Emirates which killed three persons and damaged Oil storage and Area near Airport.

The boldest attack from Houthis is considered a major Geo-political move as Attack have been mounted on a largely populated Area inside UAE.

Further momentum to oil prices was given by shrinking global oil inventories.

Goldman Sachs Group has increased its forecasts of Brent Crude Oil to $100/bbl in the third quarter 2022.

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