Oil continued to advance as the US imposed sanctions on Iran

International benchmarks for crude oil settled higher on Thursday, 17 June 2022 after the US government sanctioned Chinese, Emirati and Iranian firms that help export Iran's petrochemicals. Meanwhile, International Energy Agency expected the global oil demand to grow by 2% in 2023 to a record of 101.6 million barrels per day.

Brent concluded at $119.81/barrel, up $1.30 from the previous session.

WTI gained $2.27, to close at $117.58/barrel.