Oil prices up, WTI jumps almost 2% - Breaking The News

Oil prices up, WTI jumps almost 2%

6 March

1 min read

EPA/LARRY W. SMITH

Prices of oil futures increased on Wednesday after Russian President Vladimir Putin asserted that Russia and the Organization of the Petroleum Exporting Countries (OPEC) and other major oil-producing nations (OPEC+), are not considering lifting prices "indefinitely," but to work on making the oil market more stable.

The prices are seemingly also moving ahead of the publication of the figure of the US Energy Information Administration (EIA) on crude oil stocks and amid Federal Reserve Chair Jerome Powell's remarks.

West Texas Intermediate (WTI) for settlements in April was up 1.97% to $79.69 per barrel at 9:21 pm ET. Brent for deliveries in May jumped 1.39% to $83.14 per barrel at the same time.

oil

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