Oil jumps amid anticipation of the OPEC Plus decision and geopolitical tensions. Global oil prices witnessed a noticeable rise in trading - today, Friday - with futures contracts for Brent crude for delivery next May rising by $2.24 per barrel, or 2.73%, to reach $84.15.
Futures contracts for US West Texas Intermediate crude for Delivery next April rose by 2.37. Dollars, or 3.03%, to $80.63 per barrel. It is estimated that the main driver of the increase in crude prices is the expected decision from OPEC Plus to extend voluntary production cuts to second quarter of 2024.