Oil price surges to $105 a barrel ahead of a meeting of the Organisation of the Petroleum Exporting Countries (OPEC) and its allies.
On Tuesday, Brent Crude futures settled up 7.35 percent to $105.66 a barrel, at 16.30 GMT+1.
West Texas Intermediate Crude futures proportionally gained 7.54 percent to $103.32 a barrel.
OPEC and its allies adopted a production cut system to prop up prices and prevent an oversupply in the global oil market
On Wednesday, OPEC+ will meet to discuss oil output for April amid the Russia-Ukraine conflict.
GVE
