Oil inched higher on renewed supply concerns, Chinese demand rebounded

International benchmarks for crude oil settled higher on Thursday, 22 September 2022 after Russia pushed ahead with its conscription, raising concerns that an escalating war with Ukraine would further hurt supply. Meanwhile, Chinese mega refineries are mulling over lifting operating rates by 10%, signalling a rebound in demand.

Brent gained 63 cents to close at $90.46/barrel. 

WTI added 55 cents to close at $83.49/barrel.