Prices of crude oil futures continued rising on Tuesday, as concerns over tight supply are seemingly overriding recession fears and possible lower demand due to an economic slowdown, APA reports citing Tele Trader.
The investors are still closely monitoring the situation in Eastern Europe, as the West stays firm in its decision to phase out Russian energy.
West Texas Intermediate (WTI) for settlements in August rose by 1.28% to sell for $110.26 per barrel at 12:22 am ET, while Brent for deliveries in the same month grew 1.03%, going for $115.31 per barrel at the same time.
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