Brent prices reach $123.86 per barrel

Oil prices continued to rise steadily on Thursday morning after a sharp jump the previous day, Report informs via Interfax.

The price of June Brent crude oil futures on the London ICE Futures Exchange reached $123.86 per barrel by 9:02 AM (GMT+4), up $5.83 (4.94%) from the previous close. The previous day, Brent had risen by $6.77 (6.1%) to $118.03 per barrel.

June contracts are closing at the end of trading on Thursday. More liquid July futures also showed growth, up $2.94 (2.63%) to $113.35 per barrel.

WTI futures for June delivery on NYMEX electronic trading gained $2.50 (2.34%), reaching $109.38 per barrel. In the previous session, US crude oil rose $6.95 (7%) to $106.88 per barrel.