Brent crude futures rose $1.38, or 1.5%, to $94.52 a barrel
Oil prices rose on Tuesday more than 1% after news that oil supply to Hungary via the Druzhba oil pipeline has been temporarily suspended due to a fall in pressure.
Brent crude futures rose $1.38, or 1.5%, to $94.52 a barrel at 2:22 p.m. EST (1922 GMT). U.S. West Texas Intermediate crude rose $1.60, or 1.9%, to $87.47.
Russia's state-owned pipeline monopoly Transneft (TRNF_p.MM) has been notified by Ukraine that oil supply to Hungary via the Druzhba oil pipeline is temporarily suspended due to a fall in pressure, the RIA news agency quoted Transneft as saying on Tuesday.
Also boosting prices, US producer prices increased less than expected in October, more evidence that inflation was starting to ease, which could allow the Federal Reserve to slow its aggressive pace of interest rate hikes.
SOURCE: REUTERS
NHSP PUNJAB brings provinces together to strengthen data-driven primary healthcare
- 4 hours ago
Meta to give teens' parents more control after criticism over flirty AI chatbots
- 4 hours ago
Follow live: Lions travel to Arrowhead to take on Chiefs on 'Sunday Night Football'
- 8 hours ago
Lions' Branch suspended one game for fight
- 8 hours ago
PM directs coordinated efforts for swift repatriation of Afghan nationals
- 7 hours ago
Magnitude 5.6 quake jolts Islamabad, Swat, surroundings
- 8 hours ago
Pakistan draw match with Australia 3-3 in Sultan of Johor Hockey Cup
- 4 hours ago
PM Shehbaz inaugurates upgraded GARL of Geological Survey
- 5 hours ago
Punjab cabinet approves ban on Tehreek-e-Labbaik Pakistan (TLP)
- 9 hours ago
Working hours of govt, private schools changed in Punjab
- 10 hours ago
Trump says 100% tariffs on China not sustainable, still plans to meet Xi
- 6 hours ago
Bangladesh parties sign reform charter, but student and leftist group stays away
- 4 hours ago
