Global oil prices rise

Global oil prices are rising on February 28 morning after falling the day before, Report informs referring to the auction data.

At the same time, according to the results of February, quotes may show a decline for the fourth month in a row.

The price of May futures for Brent crude rose by 0.23% to $82.23 per barrel, April futures for WTI grew by 0.32% to $75.92.

A day earlier, oil prices fell 1%.

As a result of February, oil prices may show a decline for the fourth month in a row. The US Federal Reserve is expected to continue raising the key rate in March. This reinforces fears of a possible recession in the markets, which affects, among other things, oil demand forecasts.

Markets are also looking ahead to the publication of weekly data on commercial oil inventories in the US on March 1. Analysts believe that in the week to February 24, the country's inventories rose by only 0.4 million barrels after increasing by 7.6 million barrels a week earlier.