Baghdad, Oil prices rose for the third consecutive session, today, Friday, ignoring concerns about global economic growth, as the imminent European Union sanctions on Russian oil increased the possibility of a supply shortage.

Brent crude futures rose $2.08, or 1.88%, to $112.98 a barrel by 09:22 GMT.

US West Texas Intermediate crude futures jumped two dollars, or 1.85 percent, to settle at 110.26 dollars a barrel.

Source: National Iraqi News Agency