New york: Oil prices rose by more than 2 percent at Thursday’s settlement, ending a three-session losing streak. Brent crude futures climbed $1.86, or 2.1 percent, to $89.70 a barrel. Meanwhile, U.S. West Texas Intermediate crude futures increased by $1.30, or 1.6 percent, reaching $83.53 a barrel.

According to National Iraqi News Agency, the significant rise in oil prices follows a period of decline over the past three sessions. The increase marks a notable shift in the market dynamics, as investors and traders reacted to current economic conditions influencing the global oil market.