The price of oil in the world energy market has continued to rise sharply.
On the New York Mercantile Exchange (NYMEX), the price of WTI crude oil futures for April increased by 27.26% to reach 115.68 US dollars.
The price of Brent crude oil futures for May rose by 28% to 118.73 dollars at 08:20 Baku time, but then somewhat declined and is currently trading at the level of 116.35 US dollars per barrel.
It should be noted that this is the largest price increase dynamic in the world market since 2020. The price increase is mainly linked to concerns over rising military tensions in the Middle East and potential threats to energy infrastructure./APA