Oil prices rose today, following heavy losses in the previous two sessions, as investors returned to focus on tight supplies as global recession fears persisted.
Brent crude futures rose 61 cents, or 0.6%, to $ 101.30 a barrel by 1121 GMT, and West Texas Intermediate crude futures rose 65 cents, or 0.7%, to $ 99.18 a barrel.
Transactions were volatile following prices fell at some point in the session by regarding two dollars, then the visit re-visited and rose by regarding one dollar.
And in a sign that oil supplies may remain scarce, Washington tightened sanctions imposed on Iran, a member of the Organization of the Petroleum Exporting Countries (OPEC), yesterday, to pressure Tehran to revive the 2015 nuclear deal.
Oil prices have fallen in the past weeks, highlighting fears of a sharp economic slowdown and a decline in demand for primary commodities.
