Oil extends gains as supply fears outweigh China lockdowns | Reuters
Oil prices rose for a fourth day on Friday as fears over Russian supply disruption trumped COVID-19 lockdowns in China, the world's biggest crude importer.
Brent crude futures rose by $1.90, or 1.8%, to $109.49 a barrel by 1127 GMT after gaining 2.1% in the previous session. The front-month June contract expires later on Friday. The more active July contract rose by 94 cents to $104.41.
U.S. West Texas Intermediate crude gained 86 cents, or 0.8%, to $106.22 after advancing by 3.3% on Thursday.
Both contracts are set to finish up on the week and post their fifth straight monthly gains, buoyed by the increased likelihood that Germany will join other European Union member states in an embargo on Russian oil. read more
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