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Oil on the rise, the IEA increases forecasts on growth in demand

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Crude oil prices are trading higher, after the International Energy Agency (IEA) raised its forecast of growth in oil demand for this year, while soaring gas prices push some consumers to prefer oil. use of black gold.

Around 1pm Brent futures gained 1.12% to $ 98.04 a barrel, while US West Texas Intermediate futures were up 1.12% to $ 92.60.

An increase in oil inventories in the US last week and the resumption of crude oil flows on the Russian-European Druzhba pipeline, which supplies central Europe, however, limited further price increases.

Meanwhile, physical oil prices around the world have begun to decline, along with futures, reflecting the easing of concerns over Russia’s supply disruptions and rising fears of a possible global economic slowdown. .

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