Brent crude settles above $55

The price of the March futures contract for Brent crude oil on London’s ICE rose by 1.21% and reached $55.04 per barrel on Friday.

Brent crude exceeded $55 per barrel for the first time since February 25, 2020.

In turn, WTI crude oil rose in price by 1.22%, reaching $51.49 per barrel.

As of 14:34 Moscow time, Brent oil was trading at $55.15 per barrel (+1.42%). WTI crude oil traded at $51.47 per barrel (+1.18%).