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8/11, 6:41 PM (Source: TeleTrader)
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Crude extends gains, prices up over 2%

Crude oil prices continued to rise on Thursday, as the global oil demand is set to increase in 2022.

The International Energy Agency (IEA) predicted that crude oil consumption will increase through the end of the year and will likely approach pre-Covid levels by 2023.

West Texas Intermediate (WTI) for settlements in September surged by 2.88%, selling at $94.61 per barrel at 12:28 pm ET. At the same time, Brent for October settlements soared by 2.55%, going to $99.85.

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