Oil prices increase, WTI, Brent up 1.7% - Breaking The News
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Oil prices increase, WTI, Brent up 1.7%

Markets
Christian Baha / AY

1 min read

EPA-EFE/LARRY W. SMITH

Prices of crude oil futures turned to gains on Thursday, after yesterday's losses, as investors still pay close attention to the release of the latest sanction package against Russia, which is expected to be approved later today or tomorrow.

The possible fresh sanctions on Russian energy are still raising concerns over supply, even though the International Energy Agency (IEA) announced yesterday that it will release 60 million barrels from oil reserves.

West Texas Intermediate for deliveries in May increased by 1.79% to $97.95 per barrel at 6:39 am ET, while Brent for June settlements rose by 1.79% at 6:41 am ET, going for $102.90 per barrel.

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