Oil prices are rising on Wednesday morning, after a sharp decline in the previous two trading sessions.

Accordingly, the price of a barrel of September futures for Brent crude oil is $87.06 on the ICE Futures stock exchange in London, which is $2.97 (3.53%) higher than the closing price of the previous trading session. On Tuesday, their price had fallen by $4.27 (4.8%) to $84.09 per barrel.

And the price of September futures for WTI crude oil increased by $2.62 (3.31%) to $81.88 per barrel in online trading on the New York Mercantile Exchange (NYMEX). On the previous business day, their price had decreased by $3.35 (4.1%), reaching $79.26 per barrel.