Oil prices rose to their highest level in three months on Tuesday, as a result of declining supplies and increasing demand for fuel.
Brent crude futures rose 90 cents to 83.64 dollars a barrel upon settlement, after reaching 83.87 dollars earlier during the session, which is its highest level since April 19.
US West Texas Intermediate crude rose 89 cents to reach $79.63 upon settlement, after rising to $79.90 earlier, which is also its highest level since April 19.
The two benchmarks have already achieved gains for four consecutive weeks, with expectations of a decrease in supplies due to the production cuts announced by the (OPEC Plus) alliance. / End
Source: National Iraqi News Agency