Oil prices rose by 1.24%-1.28%
As of 23 March 2022, 08:40 (UTC+3), Brent Crude futures for May settlement were trading 1.24% higher at $116.9 a barrel on the London-based ICE Futures Europe Exchange.
Light Sweet Crude (WTI) futures for May delivery on the New York Mercantile Exchange rose by 1.28% to $110.69 a barrel.
Crude oil futures rise on information about reduction of US reserves.