Oil prices rise as OPEC+ boosts output by 648,000bpd in July

Oil prices rose on Thursday even as major crude producers agreed to boost output by more than the usual amount following an EU ban on Russian imports. European shares closed higher, with Paris leading the way at 1.3 percent and Frankfurt rising 1.0 percent. London’s FTSE 100 was shut for a holiday. Wall Street stocks were little changed early on following mixed labour data and a Microsoft earnings warning, but they edged slightly higher in later trading. Equities fell in Asia as traders grow increasingly worried that central bank moves to rein in inflation could tip economies into recession. A…

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