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Oil surges after sharp decline
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- 11 March, 2020
- 05:13
Global oil prices continue to recover after a sharp decline on Monday, with their growth rate already above 3%. Brent has gone up by more than 4%, Report informs, citing the results of trading.
As of 06:13 am Baku time, the cost of May futures for Brent rose by 4.03%, to $38.72/barrel. The price of April futures for WTI oil increased by 3.26%, settling at $35.48 per barrel.
Oil prices plunged more than 30% following the collapse of the OPEC+ deal. Brent oil reached the maximum from January 2016, and WTI - from February 2016. Prices started to recover on Tuesday with quotations rising more than 10% during trading.
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