Oil continues its gains for the fourth day Brent at $ 108.47 a barrel

Oil prices rose for a fourth day today Friday as fears of Russian supply disruptions prevailed
On the impact of blockade restrictions to combat “Covid-19” in China, the world’s largest crude oil importer, casting a shadow on demand.

THE future Brent crude oil rose 88 cents, or 0.8%, to $ 108.47 a barrel, after rising 2.1% in the previous session.

West Texas Intermediate crude oil was up 55 cents, or 0.5%, to $ 105.91 a barrel, after rising 3.3% on Thursday.

And the two flocks are heading towards the end of the week in higher and posting gains for the fifth consecutive month, supported by the increased chances of Germany joining other EU countries in banning Russian oil.

But oil prices are still volatile, as China has shown no indication of easing shutdown measures, despite their impact on its economy and global supply chains.

Regarding supplies, yesterday, Thursday, six sources from the oil producer bloc “OPEC +” told “Reuters” that the bloc will likely adhere to the current production agreement and agree on another small increase in production for the month of June at its meeting on May 5th.

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