Oil prices rose on Monday amid ongoing tensions in the Middle East, Report informs via Interfax.
The cost of March Brent oil futures on the London ICE Futures exchange amounted to $78.49 per barrel, which is $0.2 (0.26%) higher than at the close of previous trading. On Friday, these contracts rose $0.88 (1.1%) to $78.29 per barrel.
WTI oil futures for February in e-trading on the New York Mercantile Exchange (NYMEX) rose by $0.12 (0.17%) to $72.8 per barrel. According to the results of previous trading, the cost of these contracts increased by $0.66 (0.9%) to $72.68 per barrel.
Market fluctuations show that traders currently do not see any serious risks of a reduction in oil output in the Middle East and oil supplies from the region, Bloomberg writes.