Oil prices rise on world markets

Oil prices climbed on Tuesday as fears of a demand downturn in China eased after Shanghai relaxed some COVID-19 related restrictions, and OPEC warned it would be impossible to increase output enough to offset lost Russian supply, News.Az reports citing Reuters. 

Brent crude futures were up $1.72, or 1.75%, to $100.20 a barrel, and U.S. West Texas Intermediate contracts were up $1.76, or 1.87%, to $96.05 a barrel at 0405 GMT. Both contracts had settled down around 4% on Monday.


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