Oil prices rose slightly on Sunday with a noticeable improvement in demand and a decrease in inventories.

Brent crude oil rose 23 cents, or 0.3%, to $85.94 per barrel, while West Texas Intermediate crude rose 31 cents, or 0.4%, to $81.60 per barrel.

It is expected that the two benchmarks will achieve gains for the second week in a row at an estimated rate of about 4%, after they rose by 5% since the beginning of the month, reaching their highest level in more than 7 weeks.

According to experts, there are factors that contributed to this rise, including improved seasonal demand, as data from the Energy Information Administration recorded an increase in demand for petroleum products in the United States, in addition to a decrease in stocks of crude oil and gasoline last week.

Geopolitical tensions, such as the escalation between Israel and Hezbollah, lead to increased concern about the possibility of reducing production or increasing demand. The hurricane season in the Gulf region could also affect production and refining operations. On the other hand, data shows an increase in demand for oil from Asia.

High interest rates pose an additional challenge to oil prices as they could slow economic growth, reduce demand in the long term, and thus lower prices.