Brent crude rises to $61.71 per barrel

Oil prices rose on Friday morning after falling to their lowest since October in the previous session, Report informs referring to trading data.

The price of February Brent crude oil futures on London's ICE Futures exchange rose by $0.43 (0.7%) to $61.71 per barrel.

WTI crude oil futures for January in electronic trading on the New York Mercantile Exchange (NYMEX) rose by $0.44 (0.76%) to $58.04 per barrel.

Both futures have fallen more than 3% since the start of the week. The main negative factor for them is expectations of a record global fuel supply surplus. The day before, the International Energy Agency (IEA) broadly confirmed its forecast that oil supply will exceed demand by approximately 4 million barrels per day in 2026.