Oil prices rose slightly from high levels on Friday morning.

In early trading, a barrel (159 liters) of North Sea Brent cost $111.23.

That was 33 cents more than the day before.

The price of a barrel of the US WTI variety rose by 32 cents to $108.58.

Prices have risen since the EU Commission proposed an embargo on Russian crude oil.

Even before that, they had climbed due to the Russian attack on Ukraine.

They have risen by a good 40 percent since the beginning of the year.

The announcement by the USA on Thursday that it would start refilling its strategic oil reserves in the fall provided additional impetus.

They are at relatively low levels because the US government has injected oil into the market several times in recent months to curb rising prices.

China's corona policy represents a counterweight to the rising prices. The economy of the People's Republic is being burdened by curfews.

China is one of the largest oil consumers in the world.