ECONOMY


Oil price rises in world market

Baku, April 4 (AZERTAC). The price of oil has continued to rise in the world market.

Ahead of the New York day, the front-month May Brent contract on London`s ICE futures exchange was up 56 cents, or 0.5%, at $119.26 a barrel. The front-month May contract on the New York Mercantile Exchange was up 39 cents, or 0.4%, at $108.33 a barrel after hitting a 2½-year intraday high of $108.78.

The gains were small relative to Friday`s jump of $1.462 for Brent and $1.22 for Nymex oil.

The price of “Azeri Light” crude oil reached $121,08 per barrel.

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