Oil prices rise as Russia fuel export ban stokes supply concerns

Oil prices increased as concerns over global supply were raised due to Russia's fuel export ban. This countered fears of decreased demand driven by macroeconomic headwinds and high interest rates. Brent futures rose by 0.86% to $94.10 a barrel, while US West Texas Intermediate crude (WTI) futures rose by 1.06% to $90.58 a barrel.