Oil prices are rising again despite a coordinated move by major economies to increase the supply of crude in the market. The International Energy Agency says its members are releasing a combined 60M barrels of crude from their stockpiles. It's on top of the 180M barrels that the US is taking out of storage over the next six months. Their decision is meant to bring down prices, as sanctions mount on Russia, the world's second-biggest exporter. But markets were not impressed. The international crude benchmark Brent has risen around 2%, with oil now trading at around $102 a barrel.

David Madden is a market analyst at Equiti Capital and he joined us from London.

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