Oil prices rise with tight supplies in focus

NEW YORK, June 16 (Xinhua) -- Oil prices climbed on Thursday, bolstered by concerns over tight supplies.

The West Texas Intermediate for July delivery added 2.27 U.S. dollars, or 2 percent, to settle at 117.58 dollars a barrel on the New York Mercantile Exchange. Brent crude for August delivery increased 1.3 dollars, or 1.1 percent, to close at 119.81 dollars a barrel on the London ICE Futures Exchange.