¬†Oil prices climbed for a third straight session on Friday, shrugging off concerns about global economic growth as worries about tightening supplies underpinned prices ahead of an impending European Union embargo on Russian oil. Brent futures rose 88 cents, or 0.8%, to $111.78 a barrel by 0641 GMT, while U.S. West Texas Intermediate (WTI) crude climbed 84 cents, or 0.8%, to $109.10 a barrel. Brent and WTI are on track to rise for a second week in a row, buoyed by the EU’s proposal to phase out supplies of Russian crude oil in six months and refined products by the end of 2022. It would also ban all shipping and insurance services for transporting Russian oil. The […]