Benchmark crude prices are rising on Wednesday morning after rising in the previous two sessions, driven by geopolitical tensions and expectations of new stimulus in China.
February Brent futures on London’s ICE Futures exchange rose by $0.39 (0.54%) to $72.58 per barrel. On Tuesday, these contracts rose in price by $0.05 (0.1%) to $72.19 per barrel.
January WTI futures on the electronic trading platform of the New York Mercantile Exchange (NYMEX) rose by $0.40 (0.58%) to $68.99 per barrel by the specified time. The day before, futures rose by $0.22 (0.3%) to $68.59 per barrel.