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Brent Crude Oil Exceeds $60 A Barrel On Monday

The price of “Brent” oil, today, Monday, for the first time since January of last year, surpassed the level of $60 a barrel.

The value of “Brent” crude oil futures for the month of April increased by 0.77% to $ 60.01 a barrel, and the prices of futures contracts for “West Texas Intermediate” crude for the month of March increased by 1.18% to $ 57.53 per barrel.

The rise in oil prices is due to optimism about the recovery of demand for crude in the oil market, after the expansion of vaccine campaigns against the Corona virus, around the world, which may lead to a decrease in the rates of infection “Covid-19”, and the lifting of quarantine restrictions, and thus the return of demand for Oil to pre-outbreak levels. Source