Crude oil prices are once again witnessing major fluctuations in the global market, where prices have now started rising again after the extraordinary decline of the previous day.
According to the latest reports, the price of Brent crude has recorded a 3% increase, after which it has reached the level of $103 per barrel. Similarly, the price of US crude oil (WTI) has also increased by 3.5% to $91.20 cents.
Experts say that this increase has come after the big decline yesterday when oil prices had fallen by more than 10% and Brent crude reached the level of $100 after a significant decline of $12. This recent rise in prices is being seen in the context of the global supply chain and political statements.