Oil surges on factors of supply and demand

World oil prices rose on Monday morning influencing by supply and demand, Report informs, citing the the auction data.

The price of November futures for Brent crude increased by 0.58% to $91.88 per barrel, and November futures for WTI rose by 0.4% to $85.06.

Oil demand is positively affected by the easing of coronavirus restrictions in China, the largest oil importer.

At the same time, investors continue to explore the prospects for reducing the oil supply against the backdrop of the upcoming EU embargo on imports of oil and oil products from Russia.