Brent price rose by 3.7% last week, WTI up by 4.8%

Last week, Brent prices rose by 3.7%, while WTI increased by 4.8%, Report informs via Interfax.

Benchmark crude prices increased last week, partly due to Chinese President Xi Jinping's promises to introduce additional economic stimulus measures for the country.

However, benchmark oil prices are declining on Monday morning.

As of 09:07 Baku time, March futures for Brent crude on the London ICE Futures exchange were at $76.19 per barrel, which is $0.32 (0.42%) lower than the previous trading session's closing level.

The price of WTI futures for February on the New York Mercantile Exchange (NYMEX) electronic trading decreased by $0.30 (0.41%) to $73.66 per barrel at the specified time.