Oil prices rose by more than $1 on Thursday in response to tighter supplies and on news that China is considering a cut in the duration of quarantine for inbound visitors.
Brent crude futures rose $1.33, or 1.4%, to $93.74 a barrel at 1020 GMT.
U.S. West Texas Intermediate crude for November delivery, which expires on Thursday, rose $1.43, or 1.7%, to $86.98 per barrel. The WTI contract for December delivery was up 1.8%, or $1.51, at $86.03 a barrel.
“Oil prices are extending their ascent at the time of writing amid reports that China is considering cutting COVID quarantine measures for visitors,” PVM Oil’s Stephen Brennock said.
