Crude oil prices Jump to nearly 3-month high

Crude oil prices jumped to a nearly 3-month high to end the month after the European Union leaders reached on Monday to ban 90% of Russian crude by the end of 2022. The US WTI crude futures surged above $118 on Tuesday and Brent crude futures for July traded above $122.

Meanwhile, the crude oil prices also received additional buying pressure after China has started to eradicate lockdown restrictions in Shanghai.

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