Oil prices rose for the third consecutive day due to tighter supplies and Chinese promises to boost the world’s second-largest economy.

Brent futures and WTI advanced over 2%, closing at their highest levels since April.

Global central bank tightening is expected to end soon, providing support for global growth.

China committed to raising domestic demand after a difficult COVID-19 recovery.

Euro zone and US data show global economic deterioration, with euro zone business activity dipped more than predicted.

Fed Chair Jerome Powell and ECB President Christine Lagarde are expected to announce rate hikes.