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Oil rises on supply worries, U.S. summer demand hopes

June 26, 2023

Oil prices edged higher on Tuesday, spurred by worries about political instability in Russia and possible supply disruptions, as well as U.S. demand hopes ahead of the summer driving season.

By 0041 GMT, Brent crude futures had climbed 37 cents to $74.55 a barrel, while U.S. West Texas Intermediate (WTI) futures rose 42 cents to $69.79 a barrel. On Monday, Brent had climbed 0.5% and the WTI 0.3%.

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