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A slight rise in oil prices, Brent records 88.33 dollars and 85.51 dollars for US crude

 Where oil prices recorded today 88.32 dollars a barrel for the futures contracts for the international benchmark Brent, and the futures contracts for West Texas Intermediate crude of the United States recorded 85.51 dollars a barrel.

According to international media reports, oil prices in global markets on Wednesday witnessed a slight increase.

Oil prices achieved weekly gains for the fifth week in a row, at the conclusion of trading sessions in the futures markets last Friday, and Brent crude contracts recorded weekly gains of 2.1% compared to the end of the previous week.

US West Texas Intermediate crude contracts also recorded a weekly gain of 1.6 percent compared to the end of the previous week.

Yesterday, Japanese Industry Minister Koichi Hagiuda said that the government will implement, for the first time, a support program for the oil industry, aimed at curbing the rise in petroleum fuel prices.

Hagiuda said - at a press conference, reported by the official Japanese news agency Kyodo News - that the average selling price of a liter of gasoline in the country reached 170.2 yen (or about 1.5 dollars) as of Monday, the highest level in more than 13 years. This exceeds the 170 yen threshold required to launch the support plan that was introduced last November.


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