Oil prices rise more than 3%

Baghdad-INA  

Oil prices rose today, Friday, more than 3% above the $110 level for the first time since 5 July.

US West Texas Intermediate crude futures rose 3.69% to $99.98 a barrel.

Meanwhile, Brent crude futures rose 2.82% to $110.16 a barrel, according to trading data.

The rise in oil prices today comes in light of fears of a decline in the supply of black gold in global markets.