Oil surges amid growing demand

Global oil prices rose on October 15 morning amid growing demand for crude, according to trading data, Report informs referring to Prime agency.

As of 8:55 (GMT+4), the price of December futures for Brent crude oil increased by 0.76 percent to $84.64 per barrel, while the price of November futures for WTI crude grew 0.68 percent to $81.86 per barrel.

On October 15 morning, the oil market saw positive dynamics amid growing demand for crude, which was facilitated by the rise in prices for natural gas.

Natural gas prices may increase oil demand among power producers, leading to higher oil prices, analysts at Phillip Securities Research told the Wall Street Journal.

In addition, according to media reports, Saudi Arabia rejected calls for additional OPEC+ supplies, which also contributed to the rise in oil prices.