"Saudi Energy Minister Warns Oil Speculators Ahead of OPEC+ Meeting"

Oil prices rose by nearly 2% after Saudi Arabia's energy minister warned short sellers to "watch out" and as seasonal demand for fuel is set to rise at the start of the U.S. driving season this weekend. WTI broke past $73 and Brent climbed above $77. The warning comes ahead of the OPEC+ meeting on June 4, and after the group sent oil prices soaring with a surprise cut in April. Analysts suggest that speculators may be wary of carrying too many shorts into the next OPEC+ meeting.