5/13, 2:20 PM (Source: TeleTrader)
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Oil prices rise, go up by 1.5%

The prices of oil futures returned to gains on Friday following the losses they scored the day before after the Organization of the Petroleum Exporting Countries (OPEC) revealed it has revised its projection for the global economic growth in 2022 down to 3.9%.

Meanwhile, it was reported Russia has ceased exporting gas to Finland over that country's plan to enter the North Atlantic Treaty Organization (NATO). The Kremlin later rejected the claims. Meanwhile, Ukraine once again urged the European Union to ban the imports of Russia's energy products.

West Texas Intermediate (WTI) for settlements in June rose by 1.55% at 8:18 am ET to sell for $107.93 per barrel. A minute later, Brent for deliveries in July increased by 1.60% to go for $109.22 per barrel.

Baha Breaking News (BBN) / JR