8/11, 12:22 PM (Source: TeleTrader)
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Oil rises after IEA revises demand growth outlook

Prices of oil futures increased on Thursday after the International Energy Agency (IEA) reported that 2022 global demand will grow more than previously estimated.

German Chancellor Olaf Scholz said that talks about introducing an upper limit on the price of Russian oil are "intensive." If the potential move materializes, Russia warned it will stop oil sales.

West Texas Intermediate (WTI) for settlements in September rose by 0.99% to $92.84 per barrel at 6:07 am ET, while Brent for deliveries in October gained 0.94%, selling for $98.32 per barrel at 6:10 am ET.

Baha Breaking News (BBN) / MS