Oil prices rose, after the International Energy Agency expected record global demand and shrinking supplies, which prompted oil to achieve gains for the seventh week in a row, in the longest series of gains since 2022.
According to Reuters, Brent crude futures rose by 41 cents, or 0.5 percent, to settle at $86.81 a barrel, while US West Texas Intermediate crude futures rose 37 cents, or 0.5 percent, to settle at $83.19 a barrel.
Within a week, Brent and West Texas crude rose by 0.37 percent and 0.49 percent, respectively.
The International Energy Agency said: "The global demand for oil reached a record level of 103 million barrels per day in June and could reach another peak this month."
Source: National Iraqi News Agency
