Brent rose to $86 per barrel

Oil prices began to rise sharply on Monday amid heightened geopolitical tensions and worries about possible supply disruptions on the global market.

The current price of Brent oil is $86.20 per barrel. In the morning, the price fluctuated slightly in the area of $85.20. North American WTI crude also rose, trading near $82.10 per barrel. 

The market was supported by the next attacks in the Red Sea. On Saturday, March 23, the Yemeni Houthis fired four anti-ship ballistic missiles in the direction of the Huang Pu oil tanker belonging to China, which was moving through the Red Sea under the Panamanian flag.

Restrictions on oil production by OPEC+ countries and attacks by Ukrainian drones on Russian refineries have also become a driver of price growth. According to a number of experts, these events have led to a reduction in oil refining volumes in Russia by more than 10%.

Data from the oilfield services company Baker Hughes indicates a decrease in the number of operating oil drilling rigs in the United States by one over the past week, reaching 509 units. The number of gas installations also decreased by four, to 112.