Oil Updates — crude rises on signs of strong demand, Russia-Ukraine peace uncertainty
LONDON: Oil prices rose on Thursday, bolstered by signs of strong demand in the United States, with uncertainty over efforts to end the war in Ukraine also lending support.
Brent crude futures were close to a two-week high and up 43 cents, or around 0.6 percent, at $67.27 a barrel at 3:03 p.m. Saudi time. US West Texas Intermediate crude futures were up 45 cents, or 0.7 percent, at $63.16 a barrel.
Both contracts climbed over 1 percent in the prior session.
Russia said on Wednesday that attempts to resolve security issues relating to Ukraine over the war without Moscow’s participation were a “road to nowhere.”
