Doha: Oil prices inched higher on Tuesday as worries over a potential supply glut eased, amid uncertainty surrounding the impact of the latest US sanctions on Russian crude exports. Brent crude futures rose 27 cents, or 0.4%, to $64.33 per barrel, while US West Texas Intermediate (WTI) crude futures increased 26 cents, or 0.4%, to $60.39 per barrel.
According to Qatar News Agency, European diesel refining margins climbed to their highest level in almost 21 months, nearing $31 per barrel, while European gasoline refining margins rose to an 18-month high of around $21 per barrel.