(MENAFN- Trend News Agency) Oil prices rose on Monday, reclaiming some of the massive losses
they had suffered in the previous week, trend reports citing xinhua .
The West Texas Intermediate for April delivery increased 90
cents, or 1.35 percent, to settle at 67.64 U.S. dollars a barrel on
the New York Mercantile Exchange. Brent crude for May delivery
added 82 cents, or 1.12 percent, to close at 73.79 dollars a barrel
on the London ICE Futures Exchange.
Oil prices have been struggling recently as banking turbulence
in the United States and Europe amplified recession fears.
For the week ending Friday, the U.S. crude benchmark tumbled 13
percent, while Brent dropped 11.9 percent, based on the front-month
contracts.
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