(MENAFN- Trend News Agency) Oil prices rose on Monday, recouping some of the losses they had
suffered in the prior week, trend reports citing xinhua .
The West Texas Intermediate (WTI) for March delivery gained 72
cents, or 0.98 percent, to settle at 74.11 U.S. dollars a barrel on
the New York Mercantile Exchange. Brent crude for April delivery
added 1.05 dollars, or 1.31 percent, to settle at 80.99 dollars a
barrel on the London ICE Futures Exchange.
The rally came after a devastating earthquake that struck
Türkiye and Syria early Monday halted operations at Türkiye's major
oil export hub in Ceyhan. The Ceyhan terminal exported over 1
million barrels a day in January, according to crude oil and
refined oil product flows data provider Vortexa.
Also lending buoyancy to oil were expectations of rising demand
from China.
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