Oil Prices Rise

Oil prices are rising. As of 19:20 Yerevan time, Brent April futures on the London ICE Futures Exchange have increased by $1.43 (1.56%), reaching $92.84 per barrel. This is reported by Интерфакс.

Meanwhile, WTI March futures on the New York Mercantile Exchange (NYMEX) have risen by $1.52 (1.69%) to $91.4 per barrel. Since the beginning of the week, both Brent and WTI contracts have seen a decline of about 1% in value.

Oil prices have increased over the past seven weeks and last week concluded with seven-year highs. However, this week they are declining against signals that Iran and the United States are close to an agreement that would lead to the return of Iranian oil to the global market.