Oil Prices Rise Again with Brent Exceeding $60 per Barrel

Oil prices continued to rise on Monday, with the global benchmark crude reaching the $60 a barrel level for the first time in about a year.

This comes amid the commitment of the OPEC+ alliance to output curbs, improved expectations for the recovery of global demand, and anticipation for a new stimulus bill in the United States.

Brent crude futures for April delivery rose by $1.22, or 2.1%, and finished at $60.56 per barrel, its highest level since January 24 of last year.

This the seventh consecutive session for the global benchmark crude most active contracts to close in gains.

Meanwhile, the West Texas Intermediate (WTI) crude futures for March delivery added $1.12, or 2%, and closed at $57.97 per barrel, its highest closing level since January 21.