Oil prices jump on world

25 November 2024

Oil prices jump on world markets

09:55 21 April 2022 Read: 407

Oil prices jump on world markets

Oil prices firmed in choppy trade on Thursday as concerns about supply due to a potential European Union (EU) ban on Russian oil came to the fore, days after diminished supplies from Libya rocked the market, AzVision.az reports citing Reuters.

Brent crude futures rose 97 cents, or 0.91%, to $107.77 a barrel at 0437 GMT. U.S. West Texas Intermediate (WTI) crude futures gained 86 cents, or 0.84%, to 103.05 a barrel, adding to a 19 cent gain in the previous session.

Analysts said market volatility is likely to pick up again soon, with the EU still weighing a ban on Russian oil.

More about: Brent WTI

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