Oil prices have soared by eight percent over the past two years, almost completely overcoming the fall of recent weeks, according to trade data.

As of 16:30, Brent is trading at $69.5, WTI is at $66.7. Compared to the end of last week, quotes rose by five dollars.

The reason for this was the change in the expectations of market participants about US policy. The head of the Federal Reserve Bank of Dallas, Kaplan, on Sunday, August 22, announced the possibility of revising plans to tighten US monetary policy. Previously, he expressed the opposite opinion, however, the spread of a new strain of coronavirus and an increase in the number of diseases forced him to reconsider his position.