Oil gained nearly 1% on Tuesday as supply concerns remained

International benchmarks for crude oil revived by nearly 1% on Tuesday, 7 June 2022 on the cloudy outlook of the Iranian nuclear deals while industry experts anticipated another week of decline in the US crude inventories, further stressing the global supply tightness.

Brent added $1.06 or 0.9% to settle at $120.57/barrel. 

WTI gained 91 cents or 0.8% to close at $119.41/barrel – the highest level since 8 March 2022.