Global oil prices rise slightly

Global oil prices rose on January 24 morning amid growing demand for crude, Report informs.

The price of March futures for Brent crude rose by 0.84% ​​to $87.81 per barrel. March futures for WTI rose in price by 0.83% to $85.85 per barrel.

The oil market is observing a positive trend, which is facilitated by high demand for crude. Growth in the oil market has been observed for five weeks in a row. So, over the past week, Brent has risen by 2%, and WTI has risen by 1.5%.

Though many parts of the world reported a record number of coronavirus infections, oil demand was not affected as much as the market expected, the Wall Street Journal reports.