Oil Prices Climb on Supply and Demand Fundamentals

Oil Prices Climb on Supply and Demand Fundamentals
A worker collects a crude oil sample at an oil well operated by Venezuela's state oil company PDVSA in Morichal, Venezuela, on July 28, 2011. Carlos Garcia Rawlins/Reuters
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LONDON—Oil prices rose on Tuesday on high summer fuel demand while supplies remain tight because of sanctions on Russian oil after its invasion of Ukraine.

Brent crude rose $1.61, or 1.4 percent, to $115.74 a barrel by 0825 GMT.