Brent crude rises moderately

Oil prices edged higher on the morning of August 12 after rising in the previous session amid doubts over the prospect of a swift peace agreement between the United States and Iran.

October Brent crude futures on London's ICE Futures exchange were trading at $89.47 a barrel as of 9:04 a.m. Baku time, up $0.56, or 0.63%, from the previous close, Caliber.Az reports via foreign media.

Brent futures gained $1.19, or 1.4%, on August 11 to finish at $88.91 a barrel.

Meanwhile, September WTI crude futures on the New York Mercantile Exchange (NYMEX) rose $0.58, or 0.7%, to $83.78 a barrel. WTI had gained $1.07, or 1.3%, in the previous session, closing at $83.20 a barrel.

By Aghakazim Guliyev