Oil prices rise for a second session on concerns over supply amid U.S. sanctions on Russia and a larger-than-expected fall in U.S. crude oil stocks. Brent crude futures reach their highest level since July 2021, while U.S. West Texas Intermediate crude futures reach their highest level since July 2021 as well. U.S. crude oil stocks fell to their lowest level since April 2022, exceeding analysts' expectations. The drop in stocks adds to a tightened global supply outlook following broader U.S. sanctions on Russian oil producers and tankers. Demand for oil is expected to grow in the coming weeks due to heightened travel activities in India and China for festivals.