Crude oil futures rise after recent fall
Crude oil prices rose by 2.61%-2.64%
As of 11 May 2022, 09:17 (UTC+3), Brent Crude futures for July settlement were trading 2.64% higher at $105.15 a barrel on the London-based ICE Futures Europe Exchange.
Light Sweet Crude (WTI) futures rise after a fall on May 10 caused by traders’ concern over global economic growth and new wave of coronavirus in China.
Crude oil futures are rising as investors are expecting the commodity deficit due to the OPEC+ decision and EC head statement.
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