Crude oil market continued to rise as traders shrugged off economic concerns
Crude oil market continued to rise as traders shrugged off economic concerns
International benchmarks for crude oil rose nearly 1.5% on Friday, 6 May 2022 as traders pushed asides concerns over the global economic prospect to put supply shortage back in the limelight amid the impending European Union sanctions on Russian oil.
Brent hiked $1.49 or 1.3% to close at $112.39/barrel.
WTI rose $1.51 or 1.4% to settle at $109.77/barrel.