Oil prices rise on Friday evening

World oil prices on Friday evening are rising by more than 2% on retail sales statistics in the US, according to trading data and analysts’ comments.

As of 21.03 Moscow time, the cost of September futures for Brent crude oil is growing by 2.17%, to $101.25 per barrel, August futures of WTI brand – by 2.32%, to $98 per barrel.

„Today’s relief comes from stronger-than-expected US retail sales data and lower Saudi oil production growth expectations,” Rohan Reddy, director of research at Global X Management, told Bloomberg. Oil has been volatile, especially to the downside in recent days, due to worries about the health of the Chinese economy and „hot” US inflation data this week, he said.

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