oil futures rose tuesday as gasoline continued to push into record territory and china was seen easing lockdown rules   west texas intermediate crude for june delivery cl1 cl00 clm22 rose 96 cents or 08 to 11516 a barrel on the new york mercantile exchange after trading at the highest intraday level for a most actively traded contract since march 24 according to factset   july brent crude brn00 brnn22 the global benchmark gained 114 or 1 to 11538 a barrel hitting its highest intraday price since march 28   june gasoline rbm22 rose 05 to 40435 a gallon after closing at a record on wednesday june heating oil hom22 was up 08 at 3939 a gallon crude has gained ground as gasoline buoyed by falling inventories over the past several weeks continued its rally while implied demand for gasoline has fallen summer driving season which begins memorial day weekend is around the corner tight supplies of distillates which have also led to soaring diesel prices have also moved to underpin crude meanwhile the easing monday of some lockdown restrictions in shanghai china’s largest city have also helped boost crude analysts said “the lockdown in shanghai which has been in place since the end of march has weighed considerably on oil demand crude oil processing in china dropped to 126 million barrels per day in april which was the lowest level since march 2020 ie during the first coronavirus lockdown” said carsten fritsch commodity analyst at commerzbank in a note upside for oil may be limited however by uncertainty over the european union’s effort to impose a ban on imports of russian crude in the face of continued resistance from hungary the ban requires unanimous approval of the eu’s 27 members a meeting of eu foreign ministers on monday failed to achieve an agreement with talks sent back to the ambassador level news reports said a may 3031 summit may offer the best opportunity for an agreement analysts said see interviews with fed chairman jerome powell the ceos of companies including wells fargo moderna and fanduel register for virtual access to the wall street journal’s future of everything festival may 1719 select virtual pass for complimentary access