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Crude prices rally as Brent reaches $72 68
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Brent, WTI trade above $70 as crude prices hit 32-month high
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Crude oil makes back all lost during pandemic
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Brent breaches $71-mark as oil prices hit highest levels in 2 years
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Daily Times
June 1, 2021
Oil prices increased over one percent on Monday amid hopes of recovering economies around the globe, despite closure of US and UK markets due to public holidays.
At 1255 GMT, Brent, the international benchmark for two-thirds of the world’s oil, was trading at $69.69 a barrel after gaining 1.41 percent. Likewise, the US West Texas Intermediate (WTI) crude futures gained 1.46 percent to reach $67.29 a barrel. The price for Opec Basket was recorded at $67.32 a barrel with 0.22 percent decrease, Arab Light was available at $69.08 a barrel with 0.12 percent increase while price of Russian Sokol increased 0.19 percent to reach $69.54 a barrel.