Wednesday 27 July 2022

Oil rises for a second day on supply tightness concerns

Oil rises for a second day on supply tightness concerns

Oil prices rose on Tuesday for a second day on growing concerns about tightening European supply after Russia, a key energy supplier to the region, cut gas supply through a major pipeline. Brent crude futures rose $1.25, or 1.2%, to $106.40 a barrel by 1359 GMT, extending the previous day's 1.9% gain.

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