Brent prices break $60 a barrel on oil demand recovery hopes

Brent oil prices Monday shot past $60 a barrel for the first time in more than a year as investors grow increasingly optimistic about demand as the global economy recovers from the coronavirus pandemic.

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The commodity climbed 1.26 percent to $60.19 a barrel as asset markets rallied on the back of vaccine rollouts, slowing virus infections and hopes that Joe Biden’s huge stimulus proposal will be passed by US lawmakers.

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