Singapore-Sana
Oil prices rose to their highest levels in years today as demand continues to recover from the repercussions of the Covid-19 pandemic.
Reuters reported that Brent crude futures rose 87 cents, or 1 percent, to $85.73 a barrel, the highest price since October 2018.
US West Texas Intermediate crude futures rose $1.12, or 1.4 percent, to $83.40 a barrel, the highest level since October 2014.
Brent and West Texas crude contracts rose at least 3 percent last week.
Analysts from ANZ Bank said in a note today that the easing of Corona restrictions around the world will help in the recovery of fuel consumption.