Oil market settled higher for the third consecutive day

International benchmarks for crude oil ended higher on Tuesday, 28 June 2022 marking the third consecutive day of rally as Saudi Arabia and the United Arab Emirate might not be able to ramp up production significantly while G7 governments explore ways to cap Russian crude oil prices.

Brent climbed $2.89 or 2.5% to settle at $117.58/barrel.

WTI added $2.19 or 2% to close at $111.76/barrel.