The recent boost has brought prices to a two-year high of $63 for the global benchmark (Brent) and $57 for U.S. oil benchmark(WTI). Furthermore, demand was exceptionally strong in the second quarter, increasing by 2.2 million barrels per day (BBD) compared to the previous year. A combination of warmer winter weather and the over 20% rebound in crude oil are contributing to this decline, which will further raise gasoline prices and curb some demand.