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Record gains in the oil markets... and Brent records $71.8989

Oil prices recorded $71.89 a barrel, for Brent crude futures, after touching $72.17 during the session, and US West Texas Intermediate crude futures recorded $69.62 a barrel, when they settled on Friday, as Brent crude exceeded $72 a barrel for the first time. Since May 2019.


And international media reports stated that record gains in the oil markets during Friday’s trading were supported by the supply discipline of the OPEC Plus alliance and the recovery in demand for crude oil.



The OPEC Plus alliance said that they are proceeding with the agreed supply restrictions, and Thursday's weekly supply report showed that US crude stocks fell more than expected last week.