March futures for Brent oil at ICE Futures grew in price by $1.58 (2.79%) to $58.15 per barrel, as of 3.01pm. WTI futures at NYMEX gained $1.32 (2.61%) and reached $51.80 per barrel, Interfax reports.The price for Brent has increased by 18% in the last two weeks as a result of fear that oil extractors may reduce volumes of fuel produced due to the fall of investments. Volatility on the oil market has reached the peak since April 2009.
March futures for Brent oil at ICE Futures grew in price by $1.58 (2.79%) to $58.15 per barrel, as of 3.01pm. WTI futures at NYMEX gained $1.32 (2.61%) and reached $51.80 per barrel, Interfax reports.
The price for Brent has increased by 18% in the last two weeks as a result of fear that oil extractors may reduce volumes of fuel produced due to the fall of investments. Volatility on the oil market has reached the peak since April 2009.
