Oil Prices Rise After Days of Decline

Oil prices have risen amid concerns about slowing demand for crude in light of uncertainty regarding the global economy. Despite this increase, prices are on track to record a weekly loss. U.S. West Texas Intermediate crude futures rose by 0.73% to $82.24 per barrel, while global benchmark Brent crude futures increased by 0.50% to $90.23 per barrel, according to data from Bloomberg. In previous days, the prices of black gold had declined due to fears of reduced demand following an increase in COVID-19 cases in China.