Oil prices rose on Tuesday on high summer fuel demand while supplies remain tight because of sanctions on Russian oil after its invasion of Ukraine.
Brent crude rose $1.61, or 1.4 percent, to $115.74 a barrel by 0825 GMT. US West Texas Intermediate (WTI) crude for July, which expires later on Tuesday, rose $2.29, or 2.1 percent, to $111.85.
The more-active WTI contract for August was up $2.48 at $110.47 a barrel.
UBS analyst Giovanni Staunovo said that despite concerns over economic growth, latest data on flight activity and mobility on US roads continues to show solid oil demand.
Read More : https://english.alarabiya.net/business/energy/2022/06/21/Oil-prices-climb-on-supply-and-demand-fundamentals
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