Oil prices rise after declining a day earlier

Oil prices rose on Thursday after falling the day before, reported from Interfax.

The cost of April futures for Brent oil on the London ICE Futures exchange amounted to $80.84 per barrel. This is $0.29 (0.36%) higher than the previous close.

On Wednesday, these contracts fell $1.95 (2.4%) to $80.55 a barrel.

WTI oil futures for March in e-trading on the New York Mercantile Exchange (NYMEX) increased in price by $0.3 (0.4%) to $76.15 per barrel.

According to the results of previous trading, the cost of these contracts fell by $1.97 (2.5%) to $75.85 per barrel.

In January, oil prices rose for the first time in 4 months amid Houthi attacks on ships in the Red Sea and retaliatory measures by the United States and its allies. Brent and WTI rose in price over the month by 6.1% and 5.9%, respectively.

Commercial oil reserves in the United States last week increased by 1.23 million barrels, to 421.91 million barrels, the Department of Energy said.

US oil production increased last week, exceeding 13 million barrels per day.





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