Oil prices rise, with Brent recording $72.43 per barrel

Oil prices witnessed a rise today, Thursday, ahead of a meeting of the “OPEC+” alliance later in the day, and amid investors’ anticipation of the meeting’s decisions.

Brent crude futures increased 12 cents, or 0.2 percent, to $72.43 per barrel.

West Texas Intermediate crude futures rose 16 cents, or 0.2 percent, to $68.70 per barrel.

Sources in the OPEC+ alliance had previously suggested that the alliance would extend the latest round of oil production cuts for at least three months, starting next January, at its online meeting today, to provide additional support to the oil market.