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Price of WTI Crude Futures Tops $35 Per Barrel First Time Since March 11

Global oil prices accelerated growth to 5 percent on Friday evening, and the price of WTI crude futures rose above $35 per barrel for the first time since March 11.

As of 18.33 GMT, the price of July futures for WTI crude rose by 4.63 percent to $35.27 per barrel. Brent crude futures for August delivery were trading up 4.41 percent to $37.62 per barrel. Minutes earlier, the growth of both crude brands exceeded 5 percent.

The situation on the global oil market has been volatile since early March when the World Health Organisation declared the coronavirus outbreak a pandemic.