11:28 - 5.02.2020

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February 5, Fineko/abc.az. Oil prices are rising on Wednesday after falling more than by 20% from their January’s peak.

Following the trading on 4 February at the London ICE Futures Exchange, the price of April’s Brent oil futures fell by $0.49 (0.9%) to $53.96 per barrel. By 9:25 am Brent futures for April grew by $0.65 (1.2%) up to $54.61 per barrel.

At the end of the trading on 4 February at the New York Mercantile Exchange (NYMEX), March’s WTI futures fell by $0.50 (1%) to $49.61 per barrel. By 9:25 am, March’s WTI futures contract increased by $0.55 (1.11%) up to $50.16 per barrel.

The drop in WTI and Brent prices from the peak level recorded on 6 January exceeded 20% that indicates a "bearish" trend.

Azerbaijani oil Azeri Light rose by $0.41 (0.68%) up to 60.27 per barrel.