For the first time since October 6, 2014, Brent oil prices have exceeded $93 per barrel on world markets, Report informs referring to trading data and analysts’ comments.
The price of April futures for Brent crude rose by 0.21% to $93.47 per barrel, March futures for WTI fell by 0.29% to $92.04.
The results of the OPEC+ meeting, at which the alliance decided not to increase the volume of monthly production beyond the plan, contributed to the positive factor for the rise in prices.
In addition, frosts in Texas also affected the growth in oil demand in the US.
According to Oanda analysts, quoted by the Wall Street Journal, oil prices approached $100 a barrel last week due to a drop in US production after an Arctic explosion disrupted work in Texas.