(MENAFN- AzerNews) Oil prices rose on Monday, recouping some of the losses they had
suffered in the prior week, xinhua reports.
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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