The price of July futures on Brent on the London ICE Futures exchange rose by 8:01 GMT on may 10 by $0.56 (0.73%), to $77.77 per barrel. This is evidenced by the auction.

May 9 contracts increased in price to $2.36 in (3,15%) – to $at 77.21 per barrel.

The price of the WTI futures for June at the electronic trading of the new York Mercantile exchange (NYMEX) increased to 8:01 GMT on may 10 by $0.57 (0.8%) – to $71.71 per barrel. At the end of the previous session, contracts rose by $2.08 (3.01%) to $71.14 per barrel.

The price of oil of reference marks continues to rise during the auction on May 10 after a sharp increase the day before, when Brent and WTI have updated the highs since November 2014, Finmarket reports.

Oil prices are rising after US President Donald trump decided to withdraw from the agreement on Iran's nuclear program and impose sanctions against the country, which is the third largest oil producer in OPEC.

Also on May 9, the US Department of energy reported that oil reserves in the country decreased unexpectedly by 2.2 million barrels last week, while experts expected an average increase of 1 million barrels. In addition, oil imports to the US fell at a record pace since November 2016.