While fuel consumption is expected to start rising with the start of the peak summer demand season, oil prices rose on Wednesday on the expectations of major producers who will maintain production cuts at a meeting this Sunday

American West Texas Intermediate futures for July rose by 35 cents, or 0.4%, to $80.18. Brent oil futures for July delivery rose 27 cents, or 0.3%, to $84.49 per barrel at 0042 GMT. According to Daniel Hynes, senior commodity strategist at ANZ Bank, “Early data suggests that a relatively high number of vacation trips to the United States were made during the Memorial Day vacation, which traditionally marks the start of the driving season. Air travel has also been important.”