Oil Prices Continue to Rise on New York and London Markets

West Texas Intermediate (WTI) crude, which operates on the New York futures market (Nymex), advanced 0.17% this morning and was trading at US$ 74.89 a barrel in contracts with delivery in June.

Similarly, Brent oil from the North Sea, which is traded on the London electronic market (ICE) gained 0.43% and a barrel was agreed to at US$ 78.71 also in the contracts for June, according to as reported by the Bloomberg agency.

Meanwhile, the Organization of Petroleum Exporting Countries (OPEC) reported that its crude basket closed yesterday at US$78.40 a barrel, compared to US$81.12 the day before, which represented a drop of 3. 36%