Crude oil prices climb after progress on huge US stimulus bill

SINGAPORE: Oil prices rose more than $1 on Monday on optimism in the global economy thanks to progress in a huge U.S. stimulus package and on hopes for improving oil demand as vaccines are rolled out.

Brent crude futures for May rose $1.07, or 1.7%, to $65.49 per barrel by 0042 GMT. The April contract expired on Friday.

U.S. West Texas Intermediate (WTI) crude futures jumped $1.10, or 1.8%, to $62.60 a barrel.