oil and gas — Oil Prices have continued to go up as crisis in Ukraine and Russia rages on Image: Financial Tribune

Oil Prices Rise Amid Tight Global Supply

On Jun 14, 2022

Oil prices rose on Tuesday as tight global supply outweighed worries that fuel demand would be hit by a possible recession and fresh COVID-19 curbs in China.

Brent crude futures rose 94 cents, or 0.9%, to $123.21 a barrel at 1029 GMT, while U.S. West Texas Intermediate (WTI) crude rose 79 cents, or 0.7% to $121.72 a barrel.

Tight supply has been aggravated by a drop in exports from Libya amid a political crisis that has hit output and ports.

Reuters/Hauwa Abu

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