Oil prices are rising

© AP Photo / Hasan JamaliДобыча oil. Archival photoOil prices are rising© AP Photo / Hasan Jamali

World oil prices rise on Friday morning in the correction after a significant decline on the eve on the background of the review of the International energy Agency (IEA), according to the auction.

As of 7.46 MSK price of November futures for North sea petroleum mix of mark Brent has grown on 0,2%, to 78,34 per barrel. The price of October futures for WTI crude oil rose by 0.32% to 69,81 per barrel. A day earlier, the decline in oil prices reached 2%.

On Friday, the oil market wins back losses of the previous day of trading that occurred after the IEA said that despite rising demand for raw materials, global economic risks are still increasing. Investors fear that they may affect the global oil market.

Support cost of raw materials on Friday continue to have concerns about the risk of interruption of exports from countries such as Iran and Venezuela. «Significant support to oil prices has a concern of market participants regarding the supply of raw materials to the world market», — quotes Agency Reuters analysts at ANZ Research.

Oil prices are rising© Infographicsrussia forces in the world oil market