Oil prices rebound after downbeat week

Oil prices rose on Monday, recouping some of the losses they had suffered in the prior week, Xinhua reports.
The West Texas Intermediate (WTI) for March delivery gained 72 cents, or 0.98 percent, to settle at 74.11 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for April delivery added 1.05 dollars, or 1.31 percent, to settle at 80.99 dollars a barrel on the London ICE Futures Exchange.
The rally came after a devastating earthquake that struck Türkiye and Syria early Monday halted operations at Türkiye's major oil export hub in Ceyhan. The Ceyhan terminal exported over 1 million barrels a day in January, according to crude oil and refined oil product flows data provider Vortexa.
Also lending buoyancy to oil were expectations of rising demand from China.
--
Follow us on Twitter @AzerNewsAz
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!