Oil prices rise 3%

Capitals, February 27 / WAM / Oil prices recorded an increase of about 3% today, Friday.

By 13:28 GMT, Brent crude futures rose by $2.13, equivalent to 3%, to reach $72.88 per barrel.

US West Texas Intermediate crude also rose by $2.31, or 3.5%, to reach $67.52 per barrel.

Brent crude and West Texas Intermediate crude are currently trading at their highest levels since July and August, respectively, while Brent crude is heading towards achieving weekly gains of about 1.6%, while West Texas Intermediate crude is close to recording a weekly rise of approximately 1.7%.

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