Oil prices have moved to recovery after falling on Friday

World oil prices on Monday morning are recovering after falling more than 3% during Friday’s trading, follows from the trading data. As of… Oil prices have moved to recovery after falling on Friday

Oil production

MOSCOW, 17 Oct — PRIME. World oil prices on Monday morning are recovering after falling more than 3% during Friday’s trading, follows from the trading data.

As of 8:05 Moscow time, the price of December futures for Brent crude oil is growing by 0.83%, to $92.39 per barrel, December futures for WTI – by 0.77%, to $85.3.

On Monday morning, oil investors are reeling from earlier trading, during which Brent fell 3.1% and WTI fell 4.3%, hitting below $85 a barrel for the first time since October 4.

“The upward momentum may not last long as there is no clear reason for the rally. It could be a bargain hunt after a sharp decline towards the end of Friday’s session,” Vanda Insights founder Vanda Hari told Bloomberg.