The price increase was influenced by the announcement of the US, followed by other countries, about their intention to release stocks from strategic reserves.
June Brent futures rose by $0.21 (0.2%) on the London ICE Futures exchange to $104.6 per barrel. On April 1, prices fell by $0.32 (0.3%) to $104.39 per barrel.
By this time, May futures for WTI grew $0.09 (0.09%) in online trading on the New York Mercantile Exchange (NYMEX), to $99.36 per barrel. On April 1, WTI fell $1.01 (1%) to $99.27 per barrel.
At the end of last week, Brent prices fell by 11.1%, WTI prices by 12.8%, the weekly drop in the value of both brands was the most significant since April 2020.
Another factor is the situation in China, where COVID-19 cases continue to rise and tight restrictions remain.
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