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Oil Futures Finish at Highest Level Since February

M. Ali 13 January, 2021 1:26 am Commodities, Market Update

Oil prices rose on Tuesday, supported by the decline of the U.S. Dollar (USD) and the recent OPEC+ agreement to curb output during February.

Crude prices were able to log high gains and reach their best settlement level in about 11 months.

Brent crude futures for March delivery added 92 cents, or 1.7%, to close at $56.58 per barrel, returning with strong gains after falling on the first session of the week yesterday, and closing at its best level since February 21.

Meanwhile, the West Texas Intermediate (WTI) futures for February delivery went up by 96 cents, or 1.8%, finishing at $53.21 per barrel, maintaining its upward trend for the sixth consecutive session.

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