Crude Oil Prices Pressured as Global Supplies Rebound

Crude oil prices fell on Monday due to increased global supplies, including higher flows through the Strait of Hormuz and OPEC+'s production target raise. Gasoline prices rose to a 3-week high amid tight supplies, exacerbated by Ukraine's attacks on Russian refineries. Saudi Arabia's price cut for Asian deliveries and a 4-year high in crude crack spread also influenced prices.