London: The London ICE (InterContinental Exchange Futures) reported a rise in Brent crude oil prices by $1.68, reaching a trading price of $97.68. Concurrently, the New York Mercantile Exchange (NYMEX) witnessed an increase in Light crude oil prices by $1.70, bringing it to $95.46.

According to Azerbaijan State News Agency, these developments indicate a notable upward trend in the oil market. The increase in prices reflects ongoing dynamics and factors influencing the global oil supply and demand balance. Such movements in crude prices have significant implications for economies reliant on oil production and consumption.