Oil prices up over 1% as supply fears intensify

Friday, 09. September 2022 09:55

The prices of oil futures increased on Friday, as traders showed concerns over the possible cuts in the global supply of crude as the Western countries continued to pressure Russia with sanctions.

The energy crisis has been raging in Europe as a result of Russia's decision to halt its gas supplies to the European Union. Moscow underlined that it will refuse to send its energy sources to the West should the latter impose a price limit.

West Texas Intermediate (WTI) for settlements in October rose 1.10% to sell for $84.46 per barrel at 3:42 am ET, while Brent for deliveries in November gained 1.25% to go for $90.18 per barrel at 3:44 am ET.

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Baha Breaking News (BBN) / AY