Oil prices rise and continue to record gains

International oil prices continued to rise during trading today, Monday, and the global “Brent” crude contracts are heading towards the level of 87 dollars per barrel, and this comes despite concerns over demand due to the spread of the mutated “Omicron” from the Corona virus.

American “West Texas Intermediate” crude futures rose 0.58% to $ 84.31 a barrel, while Brent crude futures rose 0.49% to $ 86.48 a barrel, according to what was reported by “Russia Today” channel.

Last week, Brent contracts rose by 5.3%, and US crude, West Texas Intermediate, increased by 6.2%.

The rise comes on the impact of positive data from China, where official data showed that the Chinese economy achieved stable growth in 2021. The National Statistics Authority of China stated that the country’s gross domestic product rose by 8.1% year on year.

The data indicated that this growth rate was much higher than the government’s target of “above 6%,” according to the Chinese “Xinhua” news agency.

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