Oil prices are close to $73 a barrel

Baghdad / NINA / – Oil prices rose close to $73 a barrel, supported by increasing indications of a supply cut in the United States due to Hurricane Ida, and with higher-risk assets receiving a boost from hopes related to trade between the United States and China.

Brent crude rose at the settlement of $ 1.47, or 2.3 percent, to $ 72.92. The session peak was at $73.15 a barrel, according to Reuters.

US West Texas Intermediate crude rose 1.58 dollars, or 2.3 percent, to 69.72 dollars.

The two crudes recorded small gains during the week, and Brent rose 41 percent this year thanks to production cuts by the Organization of Petroleum Exporting Countries (OPEC) and some recovery in demand from the pandemic.

Source: National Iraqi News Agency