Oil prices continue to rise due to expectations of a shortage.

After stabilizing more than a dollar higher on forecasts of a tighter supply due to Russian output curbs and attacks on Russian refineries, oil prices were expected to rise for a second day in a row on Tuesday.

Brent crude had increased 23 cents to $86.98 per barrel. Crude futures in the US increased by 28 cents to $82.23.The settlement for both contracts was $1.32 higher during the prior trading session.

The next week, U.S. refinery crude runs will increase by 300,000 bpd while domestic supplies will fall by 500,000 bpd. This indicates a further tightening of supply.

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