Global Geopolitical Risks Push Crude Prices Higher

Group 1 - Crude oil and gasoline prices are rising due to a weak dollar and escalating geopolitical risks in Europe, particularly after Poland shot down Russian drones, which is seen as an "act of aggression" [2][3] - OPEC+ has agreed to increase crude production by 137,000 barrels per day (bpd) starting in October, which is a smaller increase compared to the previous months [4] - Concerns over the ongoing war in Ukraine may lead to additional sanctions on Russian energy exports, further tightening global oil supplies [5] Group 2 - Geopolitical tensions in Europe and the Middle East are contributing to bullish sentiment for crude prices, with Israel's recent strike on Hamas leadership in Qatar potentially widening the conflict [3] - Despite a bearish EIA inventory report showing an unexpected rise in crude supplies and gasoline stockpiles, crude prices are still climbing [2] - Reduced Russian crude output due to Ukrainian attacks on Russian refineries has led to a significant decrease in Russia's crude-processing runs, supporting higher prices [4]