Oil prices return to rise upon settlement

Baghdad, Oil prices rose at the settlement at the end of trading on Wednesday, after three consecutive days of losses. Brent crude futures contracts rose by $1.35, or 1.61 %, to reach $85.08 per barrel at settlement. US West Texas Intermediate crude futures rose by $2.09, or 2.59 %, to reach $82.85 per barrel upon settlement. Crude oil prices declined last week after four weeks of gains, as hopes for a recovery in summer demand in the United States were met with other concerns about demand in China, and Chinese economic data reinforced those concerns. Source: National Iraqi News Agency