Prices for benchmark oil prices are declining on March 15 morning after rising to their highest levels since the beginning of November following the previous trading, Report informs referring to Interfax.

The price of May futures for Brent oil on the London ICE Futures exchange amounted to $85.23 per barrel. This is $0.19 (0.22%) lower than the close of the previous session.

On March 14, these contracts rose by $1.39 (1.7%) to $85.42 per barrel.

Quotes of WTI oil futures for April in electronic trading on the New York Mercantile Exchange (NYMEX) in the morning fell by $0.17 (0.21%) to $81.09 per barrel.

At the end of the last session, the price of these contracts increased by $1.54 (1.9%) and reached $81.26 per barrel.

Since the beginning of the week, oil prices have risen by about 4% thanks to signs of strong demand in the US and analysts’ bullish forecasts for fuel consumption this year, Trading Economics reports.