Oil prices rose on Tuesday, after the cap on the price of Russian seaborne oil came into force.
Brent crude futures rose 66 cents to $83.34 a barrel.
West Texas Intermediate crude also rose 70 cents to $77.63 a barrel.
Meanwhile, the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC agreed yesterday to stick to their agreement last October to cut production by two million barrels per day as from November.
In China, the authorities eased further COVID-19 restrictions, fueling optimism about increased demand from the world’s largest oil importer.
