Crude oil futures on track for two-month highs as lockdowns ease
NEW YORK: Oil prices jumped on Monday, with both US and Brent benchmarks on track for their highest settles in two months, supported by optimism about resumption in economic activity and steady output cuts from major producers.
Brent futures for July delivery rose $2.96, or 9.1 per cent, to $35.46 a barrel by 11:16 a.m. EDT (1516 GMT), while US West Texas Intermediate crude (WTI) for June traded $3.61, or 12.3 per cent, higher at $33.04.
