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Weekly gains for global oil prices .. Brent rises 1.1% and US crude 1.9%


Crude oil prices recorded their third consecutive weekly gain at the end of trading sessions in the futures markets last Friday, as Brent crude contracts rose by 1.1% compared to the end of the previous week, and US West Texas crude contracts rose by 1.9%.

 

And oil prices recorded $72.69 a barrel, for Brent crude futures, reaching their highest levels since May 2019, and US West Texas Intermediate crude futures recorded $70.91 a barrel, as of Friday’s settlement.

 

International media reports stated that the rise in oil prices on Friday was supported by the improvement in the expectations of global demand for fuel, as a result of the increase in vaccination rates in the face of the emerging Corona virus, which leads to the lifting of restrictions associated with it.

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