Global Oil Prices Rise Above $103 Per Barrel

Global crude oil prices increased, with Brent crude rising above $103 per barrel.

According to the news agency, Brent crude rose by $1.14 to reach $103.73 per barrel. US West Texas Intermediate (WTI) crude also increased by 34 cents to $89.72 per barrel.

The rise in oil prices is linked to US President Donald Trump’s denial that he was ready to ease sanctions on Iran.

Brent crude is on track to gain around 14% this month, which would be its biggest monthly increase since July. Meanwhile, WTI is expected to rise by around 4% this month.