The cost of March futures for WTI crude oil rose $0.7 a barrel, according to the New York Mercantile Exchange at 7:30 a.m. Moscow time on February 2.
The March West Texas Intermediate crude oil futures price in Asian trading on the NYMEX exchange rose to $77.1 per barrel, 0.9% above the previous day’s closing level. The previous trading day, the West Texas oil futures price fell 3.1%, while the previous day rose 1.3%.
The Brent oil futures price for March delivery on the ICE London Stock Exchange was $83.5 a barrel, up 0.8% from the previous trading level.
The rise in oil prices comes against the backdrop of rising geopolitical tensions. In addition, stock speculators are reacting to the decision of the monitoring committee of the OPEC+ countries to keep oil production at the current level.
Source: Rossa Primavera
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