Oil advanced on tighter supply, recovering demand outlook

International benchmarks for crude oil continued to advance on Friday, 25 June 2021 as fuel consumptions in the US and the EU rebounded on the back of easing COVID-19 restriction. In the meantime, supply from Iran would need time to arrive now that talks on the nuclear deals dragged.

Brent for August rose 62 cents to $76.18/barrel.

WTI for August delivery increased 75 cents to $74.05/barrel.