Brent sails past 61 USD, raising hopes Post-COVID-19 recovery
2021-02-09T10:36:07+00:00
Shafaq News/ Brent crude climbed above USD 61/bbl on Tuesday to its highest point since January 2020, extending a seven-day rally on economic hopes of a robust post-pandemic recovery.
The front-month contract for Brent crude was last seen up by 0.54% at USD 61.03 /bbl, while WTI crude was 0.72% higher at USD 58.39/bbl.
Brent crude touched an intraday high of $60.06 a barrel yesterday, the highest since January last year.
Saudi Arabia's pledge of extra output cuts in February and March on the back of reductions by other OPEC members its allies, including Russia, is helping to limit supply and support prices.
