Significant repercussions in the global oil market due to the Pentagonal Depression affecting the Middle East - Details

<p style=";text-align:left;direction:ltr">Arab Weather - Oil prices rose, during trading on Wednesday, about 3% after a ship stranded in the Suez Canal. Brent rose 2.9 percent to $ 62.55 a barrel, by 12:33 Moscow time, after tumbling 5.9 percent to $ 60.50 the previous day.<br /><br /> West Texas Intermediate crude rose 2.91 percent to $ 59.44 a barrel, after losing 6.2 percent and touching a low of $ 57.03 on Tuesday.</p><p style=";text-align:left;direction:ltr"> The two indices touched their lowest levels since early February yesterday, and are down about 14 percent from the high levels they reached earlier this month.<br /><br /> &quot;Investors adjusted their positions after the sharp drop yesterday,&quot; said Kazuhiko Saito, chief analyst at brokerage firm Fujitmoe Co for commodities.<br /><br /> &quot;But the market remains expecting a decline due to growing concerns about a recovery in demand in the wake of new restrictions in Europe due to the pandemic,&quot; he added.<br /><br /> Source: Reuters</p>