Brent crude oil prices rose above $97 per barrel on Tuesday for the first time since September 30, 2014, according to stock market data.
By 01.38 GMT, Brent futures for April delivery were up 2.34 percent at $97.38 per barrel.
In turn, contracts for WTI-brand crude for April delivery were up 3.41 percent at $93.31 per barrel.
Last February 14, Brent crude oil price exceeded $96 per barrel for the first time since October 1, 2014.
As explained in January by Goldman Sachs Group analysts, quoted by The Wall Street Journal, the oil market has a large deficit. The impact of the Omicron variant of the coronavirus on demand is not as significant as expected.