Oil prices rose on Wednesday as supplies from Russia and OPEC members tightened while data showing an unexpected increase in U.S. job openings pointed to expanding economic activity and consequent growth in oil demand.

Oil prices hit a near three-month high on Wednesday as concerns about supply disruptions and optimism over rising demand supported the market. “Concerns over Iranian and Russian oil flows will also be providing some support,

Crude oil prices rose to a three-week high amid mounting concerns over supply disruptions and increasing demands. However, technical analysts caution that oil markets may be over-bought. View on euron

Oil prices reversed early declines on Tuesday, supported by fears of tighter Russian and Iranian supply in the face of escalating Western sanctions. Brent crude futures advanced 60 cents, or 0.79%, to $76.