Oil prices rise due to supply expectations and political concerns. Oil prices rose on the back of Chinese industrial output growth and tensions in Gaza and Ukraine.
Brent crude futures for the nearest delivery rose 0.86% to $86.09 per barrel, and US West Texas Intermediate crude rose. 0.93% to $81.79 per barrel at the time of writing the report. This comes in light of the rise in industrial production in China by 7% in the first two months of the year.