Heading: Live Updates on Market News for July 4, 2024: Commodity, Cryptocurrency, IPOs, Stock Markets, and More

Oil prices have surged to a two-month high as lower US crude inventories have pushed Brent crude above $87 per barrel and WTI to over an 11-week high. This spike in oil prices comes amidst global tensions and supply concerns, driving up the cost of this essential commodity.

The increase in oil prices is a result of dwindling US crude inventories, which have put pressure on the market. Brent crude, the international benchmark, has reached its highest levels since April, indicating a bullish trend in the oil market.

Investors and analysts are closely monitoring the oil market as geopolitical tensions and supply disruptions continue to impact prices. The rise in oil prices is expected to have ripple effects across various sectors, including transportation, manufacturing, and energy.

The surge in oil prices is a significant development in the commodities market and is likely to have implications for the global economy. As oil prices continue to climb, consumers and businesses may face higher costs, potentially impacting inflation and economic growth.

Overall, the latest updates in the commodity market highlight the volatility and unpredictability of oil prices, underscoring the importance of closely monitoring market trends and developments. Stay tuned for more updates on the evolving commodity market landscape.