Oil prices rose on Monday, concluding an impressive rally for January, spurred by concerns about a possible Russian invasion of Ukraine.
In particular, the crude for March delivery added $ 1.33, or 1.5%, to close at $ 88.15 a barrel on the New York Mercantile Exchange. The contract closed in January with a total profit of 17.2%.
Brent crude for March delivery rose $ 1.18, or 1.3 percent, to $ 91.21 a barrel on the ICE Futures exchange. On a monthly basis, the contract, which expired with the completion of transactions, gained 17.3%.
Both contracts completed Monday’s trading at the highest level since October 2014, showing the largest percentage increase on a monthly basis since February 2021.
Brent April, the nearest contract now, strengthened by 74 cents or 0.8% to $ 89.26 a barrel.
Source: Capital
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