KONTAN.CO.ID - SINGAPORE. Oil prices extended gains for a fourth session on Thursday to reach the highest levels in more than 13 months, underpinned by an assurance that U.S. interest rates will stay low, and a sharp drop in U.S. crude output last week due to the storm in Texas. Brent crude futures for April gained 37 cents, 0.6%, to $67.41 a barrel by 0718 GMT, while U.S. West Texas Intermediate crude for April was at $63.54 a barrel, up 32 cents, 0.5%. Both contracts touched their highest since Jan. 8, 2020, earlier in the session with Brent at $67.49 and WTI at $63.67. The April Brent contract expires on Friday.
Oil hovers near 13-month highs as storm hits U.S. output
KONTAN.CO.ID - SINGAPORE. Oil prices extended gains for a fourth session on Thursday to reach the highest levels in more than 13 months, underpinned by an assurance that U.S. interest rates will stay low, and a sharp drop in U.S. crude output last week due to the storm in Texas. Brent crude futures for April gained 37 cents, 0.6%, to $67.41 a barrel by 0718 GMT, while U.S. West Texas Intermediate crude for April was at $63.54 a barrel, up 32 cents, 0.5%. Both contracts touched their highest since Jan. 8, 2020, earlier in the session with Brent at $67.49 and WTI at $63.67. The April Brent contract expires on Friday.