Oil rose on renewed supply concerns

International benchmarks for crude oil extended gains on Monday, 4 July 2022 after a survey by Reuters showed that OPEC missed production targets in June, while the unrest in Libya curbed 865,000 barrels per day worth of supply from this country. Investors temporarily recalibrated attention from the gloomy economic outlook to the supply issues.

Brent jumped $2.26 or 2% to settle at $113.89/barrel. 

WTI was closed for holiday.