Oil prices rise amid economic concerns

Oil prices rose, today, Friday, in light of economic concerns over demand for crude in the near term due to the high number of infections with the Corona virus.

US crude futures “West Texas Intermediate” rose by 0.37% to $ 82.42 a barrel.

Brent crude futures rose 0.51% to $84.90 a barrel, according to Bloomberg website data.

The rise came at a time when media outlets reported that China will release quantities of crude from its national strategic stocks during the Lunar New Year holiday, which begins on February 1, 2022, as part of a plan coordinated by the United States with other major consumers to reduce global prices. .

According to the sources, China agreed in late 2021 to withdraw quantities of oil from stockpiles, depending on the levels of black gold prices in the markets.