LONDON: Oil prices rose on Friday as renewed global supply concerns from Russia’s fuel export ban counteracted demand fears driven by macroeconomic headwinds and high interest rates.
Brent futures were up 80 cents, or 0.86%, at $94.10 a barrel by 1154 GMT, while US West Texas Intermediate crude (WTI) futures rose by 95 cents, or 1.06%, to $90.58 a barrel.
Brent had traded 99 cents higher earlier at $94.29 a barrel, while WTI hit a peak of $90.80, up $1.17.
