Brent crude futures rose above $70 a barrel today, Monday, for the first time since the outbreak of the Covid-19 pandemic, while US crude touched its highest level in more than two years, following reports of attacks on Saudi facilities.<\/p>\n\n\n\n
Brent contracts for May delivery reached $71.38 a barrel in early Asian trade, the highest level since January 8, 2020, and recorded $70.96 a barrel, up $1.60, or 2.3%.<\/p>\n\n\n\n
US West Texas Intermediate crude for April delivery rose 1.47 dollars, or 2.2%, to $67.56. The contract touched the closest maturity $67.98 earlier, the highest level since October 2018.<\/p>\n\n\n\n
Asian stocks rose after the US Senate approved a $1.9 trillion stimulus package while positive data from the United States and China heralded a global economic recovery.<\/p>\n\n\n\n
On Sunday, Houthi forces launched drones and missiles towards the heart of Saudi Arabia’s oil industry, targeting facilities, including a vital oil export facility of Saudi Aramco in Ras Tanura, which Riyadh described as a failed attack on the security of global energy supplies.<\/p>\n\n\n\n
Brent and US crude rose for the fourth consecutive session, after OPEC and its allies decided to keep production cuts unchanged in April.<\/p>\n","protected":false},"excerpt":{"rendered":"
Brent crude futures rose above $70 a barrel today, Monday, for the first time since the outbreak of the Covid-19 pandemic, while US crude touched its highest level in more than two years, following reports of attacks on Saudi facilities. Brent contracts for May delivery reached $71.38 a barrel in early Asian trade, the highest …<\/p>\n","protected":false},"author":9,"featured_media":32221,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6846],"class_list":["post-42595","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-oil"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/42595","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=42595"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/42595\/revisions"}],"predecessor-version":[{"id":42596,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/42595\/revisions\/42596"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/32221"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=42595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=42595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=42595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}