Crude oil prices continue to climb following previous decline

Prices rose 0.33-0.45%

Brend Crude futures price for August settlement as of 08:54 (UTC+3) June 15, 2022 edged up 0.33% to $121.57 per barrel, trading data show.

Light Sweet Crude (WTI) futures rose 0.45% to $119 per barrel.

The crude oil market shows a moderate recovery after a slight decline the day before, caused by optimism about the Iranian nuclear deal. Iranian authorities believe that negotiations on the 2015 nuclear deal revival can be successful, The Times of Israel reported. The conclusion of the agreement may lead to the easing of sanctions and an increase in the supply of Iranian oil to the global market.