Benchmark crude oil prices rise over 1%

Oil prices rose on the morning of May 22 after declining on May 21, Report informs referring to trading data.

July Brent crude oil futures on London's ICE Futures exchange rose 1.68% to $104.3 per barrel.

WTI crude oil futures for July on the New York Mercantile Exchange (NYMEX) electronic trading rose 1.11% to $97.42 per barrel.

Market participants continue to monitor the situation in the Middle East, assessing the prospects for a resolution to the conflict between the US and Iran.

Analysts fear that a possible ban by Iran on the export of enriched uranium will further complicate the negotiations between Tehran and Washington, for which the Iranian nuclear program is a key issue.