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1/14, 1:24 PM (Source: TeleTrader)
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Oil prices rise by 1% as Europe's gas stocks drop

The prices of oil went up by more than 1% on Friday after Gas Infrastructure Europe (GIE), the association of gas infrastructure operators on the Old Continent, revealed that the zone's natural gas storage has declined to 49.33% of total capacity.

Meanwhile, the European Union prolonged its active sanctions on Russia, which target the country's access to advanced technologies needed in oil production, for another six months.

West Texas Intermediate for settlements in February gained 1.35% at 7:12 am ET to sell for $82.72 per barrel. At the same time, Brent for deliveries in March advanced by 1.33% to go for $85.23 per barrel.

Baha Breaking News (BBN) / JR