Oil prices have increased in global commodity markets, APA-Economics reports.
The price of WTI crude oil for March delivery on the New York Mercantile Exchange (NYMEX) rose by 0.08%, or $0.05, to $62.89 per barrel.
On the ICE exchange, the April contract for Brent crude oil this year rose by 0.34%, or $0.23, to $67.75 per barrel.
Analysts attribute the price increase to supply expectations and demand dynamics in global energy markets.