Oil prices continue to rise amid rising energy demand.
Oil prices have increased by more than 30% since the beginning of this year.
The cost of Brent in February increased by 19%, WTI – by 21%.
The pressure on the quotations on Thursday, February 11, had concerns about the prospects for oil demand.
Experts expect the price of Brent to rise to $70 per barrel by the end of this year.
Both Brent and WTI ended trading on February 9 at their highs since January 2020.
Oil prices decreased due to deteriorating demand prospects.
On Thursday, oil prices declined due to data released by the American Petroleum Institute (API), showing an increase in the US stocks last week.
Despite the US Department of Energy data on the reduction of oil stocks in the country, quotations fell.
WTI futures have risen in price continuously for six consecutive sessions.
Oil prices continue to rise after the US Department of Energy announced a decline in stocks last week.
Data from the American Petroleum Institute (API) showed an increase in US oil stocks last week.