Oil gained on supply concerns, expectations for duel switching

International benchmarks for crude oil settled higher on Wednesday, 14 September 2022 on the expectations that more power-generating plants would switch from gas to oil this winter due to high prices. However, the gains were capped by the lingering fear that the continued COVID-19 lockdown in China.

Brent added 93 cents to close at $94.10/barrel.

WTI increased $1.17 to settle at $88.48/barrel.