7/22, 4:30 AM (Source: TeleTrader)
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Oil prices rise, up over 1% on supply woes

Oil futures prices rose on Friday as the market faces significant supply uncertainty, with one of the world's largest crude oil producers warning of insufficient global supplies, while the demand for oil grows in Asia.

The US Treasury previously stated that the potential price ceiling for Russian oil can be expected by December, which could result in skyrocketing commodity prices.

West Texas Intermediate (WTI) for settlements in September grew by 1.24% to sell for $97.54 per barrel at 10:28 pm ET, while Brent for the same month's deliveries increased by 1.50% going for $105.50 per barrel a minute later.

Baha Breaking News (BBN) / AB