Oil Rises to Highest Since October on Signs of Stronger Demand.

Oil prices have risen to their highest level since October due to signs of stronger demand. West Texas Intermediate reached a price near $84, with unexpected resilience in European oil demand and a rebound in China's industrial activity contributing to the increase. However, traders are cautious about a potential reversal after a surge in oil investments the previous week. The Organization of Petroleum Exporting Countries and its allies have also reduced supplies, which has helped offset increased flows from outside the cartel. Trading volumes are expected to be thin due to the Easter Monday holiday. [Extracted from the article]

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