Oil prices increase slightly

Oil prices have increased slightly, Report informs.

Brent oil futures rose by 20 cents, to $78.19 per barrel, and WTI oil futures grew 20 cents, to $72.98 per barrel.

Both contracts rose nearly 1% on February 5, their first gain in four sessions.

The market is focused on US Secretary of State Antony Blinken’s visit to the Middle East, which is trying to achieve a truce between Israel and the radical Palestinian group Hamas.

The latest round of conflict in this region has created risks for Middle Eastern oil supplies.