6/27, 5:01 PM (Source: TeleTrader)
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Oil prices rise with European energy crisis in focus

Prices of oil futures increased on Monday, as the supply worries continue to mount among investors, with G7 discussing introducing a price cap on the Russian crude.

Earlier, the French officials called for the return of sanctioned Venezuela and Iran to the international oil market, amid the European energy crisis, as the West continues to impose sanctions against Russia.

West Texas Intermediate (WTI) for settlements in August rose 1.36% to sell for $108.96 per barrel at 10:50 am ET, while Brent for deliveries in the same month surged 1.11%, going for $114.37 per barrel a minute later.

Baha Breaking News (BBN) / AY