"Oil Futures Surge 1% to One-Week High Amid Soaring US Diesel Prices"

Oil futures rose by about 1% to reach a one-week high due to soaring U.S. diesel prices, a decrease in the number of oil rigs, and a fire at a refinery in Louisiana. Brent crude futures settled at $84.48 a barrel, while U.S. West Texas Intermediate (WTI) crude settled at $79.83. Diesel futures also surged to a near seven-month high, leading to an increase in the diesel crack spread. Weak economic data and a stronger dollar limited the gains. Despite concerns about economic growth and inflation, analysts expect crude prices to remain supported around $80 per barrel.