Oil prices rose on Monday

International benchmarks for oil prices rose impressively on Monday (7 March) on hope that declining in the oil rigs count in the US and an output deal among major producers would help to relief the global excess supply. However, many analysts warned that the rally might be suspended by still-ample inventories of crude oil and refined products. In fact, in the US, crude-oil stockpiles stand at the highest level in more than 80 years, Wall Street Journal reported.

WTI closed at   $37.90/b (+$1.98)
Brent closed at $40.84/b (+$2.12)

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