LONDON—Oil prices extended a bull run on Tuesday after the EU agreed to a partial and phased ban on Russian oil and China decided to lift some coronavirus restrictions amid rising demand ahead of the peak U.S. and European summer driving season.
Brent crude for July, which expires on Tuesday, rose $2.11, or 1.7 percent, to $123.78 a barrel by 1103 GMT, after earlier rising to $124.10—its highest since March 9. The August contract rose $1.57 to $119.17.
