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Asharq Al-Awsat

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Asharq Al-Awsat

Oil Rises as Investors Focus on Lower Supply from Russia, Libya

Oil United States Libya Russia European Union OPEC

Pumpjacks are seen during sunset at the Daqing oil field in Heilongjiang province, China August 22, 2019. REUTERS/Stringer/Files

Oil prices rose on Thursday as concerns about supply as the European Union (EU) mulls a potential ban on Russian oil imports, days after diminished supplies from Libya rocked the market.

Brent crude futures rose $1.11, or 1%, to $107.91 a barrel at 0852 GMT. US West Texas Intermediate (WTI) crude futures gained 87 cents, or 0.9%, to 103.06 a barrel.

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