ArmInfo. Oil prices rose for the fifth consecutive session amid heightened geopolitical risks.
Yesterday, US President Donald Trump called on Iranian protesters to seize control of government authorities, promising to support them. In response, Iranian Defense Minister Aziz Nafizadeh stated that Tehran would strike American bases in the Middle East if the US decided to attack Iran again.
The price of March Brent crude futures on the London ICE Futures Exchange rose by $0.73 (1.12%) to $66.20 per barrel as of 2:24 PM Moscow time.
WTI crude futures for February on the New York Mercantile Exchange (NYMEX) electronic trading rose by $0.71 (1.16%) to $61.86 per barrel.
On Tuesday, both grades rose more than 2% on fears of an escalation in Iran, where mass unrest continues.
Citi analysts believe that Brent crude could rise to $70 per barrel in the next three months due to protests in Iran, if they lead to a reduction in oil supplies to the global market. (FINMARKET)
