Oil prices return to positive dynamics

Oil prices return to positive dynamics

Oil prices are growing this morning, after OPEC said it expects higher oil demand this year.

April Brent crude, the global oil benchmark, gained 39 cents (0.62%) to end at $62.98 a barrel on London’s ICE Futures exchange.

Meanwhile, March West Texas Intermediate crude (WTI) added 32 cents (0.54%) to settle at $59.61 a barrel, near the day’s low of $59.29. It was trading higher at around $59.80 before the shale-oil output forecast. Prices lost nearly 10% last week.

OPEC said the healthy world economy should provide the backdrop for faster-than-expected oil demand, Reuters reported.

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