.
.
.
.
Oil

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

Published: Updated:

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.

For all the latest headlines follow our Google News channel online or via the app.

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.

Read more:

Asian shares rise as optimism grows over global economic recovery

Anglo-Dutch oil giant Shell’s profit slumps in 2020 as coronavirus pandemic bites

Oil prices at one-year highs after stocks draw, supply shortfall forecast