Oil prices rise after two trading sessions of decline

Trading in the oil market began on Tuesday morning with a rise in quotations after a decline in the previous two trading days. As of 7:40 am Moscow time, the price of Brent oil was $72.9 per barrel, which is 0.8% higher than the closing price of trading on Monday. WTI oil has risen in price by this time by 1.05% to 69 dollars 33 cents per barrel. Oil prices are also supported by a message from Libya. Work on some oil fields has been suspended due to the internal political circumstances exacerbation in relation to the upcoming presidential elections. As a result of the previous two trading sessions, prices on the world oil market fell by almost 4%. Investors are worried about the rapid spread of the omicron coronavirus strain around the globe. This could lead to tougher quarantine measures, which will impede the recovery of the international economy. Investors are also awaiting the release of statistics on changes in the volume of oil reserves in the United States. They will be posted on Wednesday night.


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Arseny Kudrin

Publicist, trader

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