Brent crude rises to $95.64 per barrel amid market pressures

Oil prices rose modestly on the morning of April 15 following a steep decline in the previous trading session, which had been driven by expectations of de-escalation in the Middle East, Report informs.

As of 9:12 am Baku time (GMT+4), June futures for Brent crude increased by $0.85, or 0.9%, to $95.64 per barrel on the London ICE Futures exchange. The day before, the contract had fallen sharply by $4.57, or 4.6%, to settle at $94.79 per barrel.

Meanwhile, May futures for WTI crude on the NYMEX electronic trading platform gained $0.20, or 0.22%, reaching $91.48 per barrel. In the previous session, WTI had dropped significantly by $7.80, or 7.87%, closing at $91.28 per barrel.

Market sentiment remains sensitive to geopolitical developments, particularly in the Middle East, where easing tensions have recently reduced concerns over potential supply disruptions.