Oil prices increase on global markets

There is an increase in global oil prices on Monday morning due to expectations of Chinese economic recovery, News.az reports.

The price of Brent crude oil futures for the October contract increased by 0. 62 percent to the mark of $85 per barrel, while WTI futures for the same period increased by 0. 66 percent to reach the mark of $81.

Financial markets have recently been bewildered by the economic situation in China. The latest data of macroeconomic indicators of the country turned out to be below expectations, and investors are also closely watching the state of the real estate market in the country. Specialists believe that the recovery of the Chinese economy is becoming a key factor for further growth in oil prices.

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