U.S. oil futures end higher to recoup a portion of last week’s loss

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Oil futures climbed Tuesday, with U.S. prices recouping a portion of the more than 9% loss last week. “The oil market remains too tight over the short-term and rising expectations over tougher sanctions with Russian crude should keep demand especially strong here,” said Edward Moya, senior market analyst at OANDA. West Texas Intermediate crude for July delivery CLN22, +0.93% rose $1.09, or 1%, to settle at $110.65 a barrel on the New York Mercantile Exchange on the contract’s expiration day. August WTI oil CLQ22, +1.26%, which is now the front month, settled at $109.52, up $1.53, or 1.4%.

This article was originally published by Marketwatch.com. Read the original article here.

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