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International benchmarks for crude oil swung drastically on Tuesday, 11 June but concluded the session in the green following a report from the Energy Information Administration (EIA) raising world oil demand growth for 2024. The EIA forecasts global oil demand growth to hit 1.1 million barrels per day in 2024, up from the previous estimate of 900,000 bpd.

Meanwhile, traders remained wary about the lending rates. All eyes are on the FED’s interest rate meeting on Wednesday.

Brent added 29 cents to close at $81.92/barrel. Ebbing fears of oversupply has uplifted Brent from four-month lows last week at $77.52/barrel.

WTI inched 16 cents higher to settle at $77.90/barrel.