The price of oil has increased by 5% in the past two days, as reported by Trading Economics based on data from the United States. This small increase comes after a slight decrease in oil prices on Wednesday. Analyst Tarik Zahir from Tyche Capital Advisors explains that this decrease was expected due to the short week and the end of the first quarter. MarketWatch has reported on Zahir’s analysis.

The price of Brent oil in June futures on the London ICE Futures exchange has risen by $0.35 (0.4%) to $85.76 per barrel. This price is $0.22 (0.3%) higher than the closing price of the previous day. Similarly, the price of WTI oil in May futures on the New York Mercantile Exchange (NYMEX) electronic trading platform has increased by $0.42 (0.5%) to $81.77 per barrel. This is $0.27 (0.3%) higher than the previous day’s closing price.

There has also been news from Armenia regarding oil, as reported by NEWS.am.