Oil rises as supply concerns persist

Oil prices climbed for a third straight session on Friday, shrugging off concerns about global economic growth as impending European Union sanctions on Russian oil raised the prospect of tighter supply. Brent futures rose $2.08, or 1.88%, to $112.98per barrel by 0922 GMT, while U.S. West Texas Intermediate (WTI) crude climbed $2.00, or 1.85%, to $110.26 a barrel. READ ALSO: Oil Prices Rebound To $107.91 Per Barrel Oil price rises as OPEC projects steady demand growth 275 Oil Workers, Others Escape As Saipem Crane Vessel Nearly Sinks Brent and WTI…

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