Against a backdrop of market optimism, oil prices are rising. The gains recorded during the previous session are thus reinforced. The rise in oil prices follows optimism in Monday's session, which saw WTI and Brent climb 2.6% and 2.4% respectively. West Texas Intermediate for delivery in March rose US$1.21. On the NYMEX New York Stock Exchange, it stabilizes at $54.76 per barrel. The barrel of Brent crude for delivery ends the session at $ 57.46 on the ICE Futures Exchange in London. In April, it gained $1.11.
According to Carsten Fritsch, energy analyst at Commerzbank Research, these prices are "driven by a favorable stock market environment, the prevailing economic optimism and the disciplined production of the OPEC+ group". According to a Reuters survey, OPEC oil production in January rose less sharply than expected. The Organization of the Petroleum Exporting Countries (OPEC) and its allies aim to maintain most restrictions on their oil production from February to the end of March.