US West Texas Intermediate crude oil futures were higher late in the session Thursday, but off their intraday high. Prices were supported throughout the session by a weaker US dollar, tight US supply and hopes of improved fuel demand in China after COVID-19 restrictions were eased in two major cities.

The prospect of a lower price cap for Russian oil also offers support, analysts said. European Union governments on Thursday tentatively agreed on a $60 cap on Russian sea oil,…



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