At around 13:55 GMT, the price of a barrel of Brent North Sea rose by 6.11 percent to $114.52.
The price of US West Texas Intermediate crude oil also rose by 5.52 percent to 110.48 dollars.
The rise in oil prices is also due to the issuance of the monthly report of the International Energy Agency, which feared a “shock” in global oil supplies, after the sanctions imposed on Russia due to its military operation in Ukraine.
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