Brent oil climbs back above USD 100

Oil prices have been under pressure for the last two weeks, declining steadily due to fear of recession.

Photo: Patrick T. Fallon/AFP / AFP

Oil prices increase Thursday, and Brent is now back above USD 100 per barrel after a short price decline in the early morning hours Thursday to USD 98.95 before rising back above USD 100.

Investors are still concerned about the limited oil supply, but the outlook of large interest rate increases may, on the other hand, slow down demand for crude oil, reports Reuters.

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