KONTAN.CO.ID - LONDON. Oil prices rose on Friday to fresh multi-year highs and were set for their third weekly jump on expectations of a recovery in fuel demand in Europe, China and the United States as rising vaccination rates lead to an easing of pandemic curbs. Brent crude futures edged up 21 cents to $72.73 a barrel to 0810 GMT, after closing at its highest since May 2019 on Thursday. U.S. West Texas Intermediate (WTI) crude futures also rose 17 cents to $70.46 a barrel, after climbing on Thursday to its highest close since October 2018.
Oil rises to fresh multi-year highs on demand recovery
KONTAN.CO.ID - LONDON. Oil prices rose on Friday to fresh multi-year highs and were set for their third weekly jump on expectations of a recovery in fuel demand in Europe, China and the United States as rising vaccination rates lead to an easing of pandemic curbs. Brent crude futures edged up 21 cents to $72.73 a barrel to 0810 GMT, after closing at its highest since May 2019 on Thursday. U.S. West Texas Intermediate (WTI) crude futures also rose 17 cents to $70.46 a barrel, after climbing on Thursday to its highest close since October 2018.