Brent crude futures touched a high of $112.78 shortly after opening and were up $1.35, or 1.2%, at $111.58 at 0005 GMT, reversing a 2% loss in the previous session.
Brent crude futures rose as high as $118.22 a barrel, the highest since February 2013. The contract was at $116.60 a barrel, up $3.67, or 3.2%, by 0415 GMT.
Oil prices fall for second straight day on surging US dollar, Brent crude reaches $72.56 per barrel
Brent crude futures were down 52 cents, or 0.7%, at $72.56 a barrel as of 0227 GMT, extending a 1.8% decline on Thursday. US West Texas Intermediate (WTI) crude futures were down 48 cents, or 0.7%, at $70.56 a barrel, after retreating 1.5%
Reuters | June 18, 2021 | Updated 08:23 IST
Oil prices fell for a second consecutive day on Friday as the US dollar soared on the prospect of interest rate hikes in the United States, but were nevertheless on track to finish the week flat - only slightly off multi-year highs. Brent crude futures were down 52 cents, or 0.7%, at $72.56 a barrel as of 0227 GMT, extending a 1.8% decline on Thursday. US West Texas Intermediate (WTI) crude futures were down 48 cents, or 0.7%, at $70.56 a barrel, after retreating 1.5% on Thursday.
Brent crude was down 29 cents, or 0.4%, at $71.02 a barrel by 0057 GMT, after falling 4 cents on Thursday following a gain to the highest since May 2019. The contract is on track for a gain of nearly 2% this week