Oil prices rise after two sessions of decline

On Thursday afternoon, world oil prices started to rise after two days of decline. Yesterday's low was fixed at $80.43 per barrel. 

The current Brent oil quote is $81.35. North American WTI oil shows similar dynamics: The asset rose to $74.62 after falling to $73.83 per barrel a day earlier. Over the previous two trading sessions, oil has fallen in price by almost 4% in total.

At the same time, analysts note that «oil prices remain within their range and are in search of decisive short-term catalysts.»

Tonight, we should pay attention to the statistics on commercial oil reserves in the United States for the week through February 17. Analysts predict that inventories increased by 2.1 million barrels after an increase of 16.3 million a week earlier. At the same time, a report from the American Petroleum Institute (API) was released on Thursday night, according to which crude oil reserves in the country increased by 9.9 million.

The focus of traders' attention also remains around the policy of the US Federal Reserve System. It is expected that in March the regulator will continue the cycle of raising the discount rate due to high inflation, which increases the risks of recession. And this fact is reflected in the prospects for oil demand.