Oil Maintains Gains for Fifth Session in a Row

Oil prices maintained their rising trend and ended Thursday at a fresh highest level in about a year, supported by the commitment of the OPEC+ alliance to output cuts and the prospects of economic recovery and increased government stimulus in the United States.

Brent crude futures for April delivery gained 38 cents, or 0.7%, and closed at the level of $58.84 per barrel.

This the fifth consecutive session for the global benchmark most active contracts to end in gains, reaching its highest level since February 20 of last year.

Meanwhile, the West Texas Intermediate (WTI) crude futures for March delivery finished higher by 54 cents, or 1%, at $56.23 per barrel, maintaining its gains for four sessions in a row.