Oil prices rose on Wednesday, buoyed by tight supplies and the prospect of rising demand from the summer driving season in the United States, the world’s biggest crude consumer.
“Just ahead of the summer driving season, U.S. gasoline stocks find themselves at their seasonally lowest level since 2014,” said Commerzbank analyst Carsten Fritsch. France’s new foreign minister on Tuesday said she was optimistic on the prospect of securing agreement on a European Union sanctions package that would phase out Russian oil imports to the bloc despite current opposition in some quarters.
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