NEW DELHI : Oil prices climbed higher on Monday, with the international benchmark Brent crude oil trading at $33.42 per barrel, supported by gradual recovery in fuel demand as partial reopening of the economy gathered pace.
The West Texas Intermediate (WTI) prices has also been up and was trading at $30.19 per barrel, after it turned negative in a first last month.
This comes in the backdrop of Brent crude hitting a 21-year low, and US oil futures slumping into negative for the first time in history. The glut in oil overwhelmed the world’s limited storage facilities, triggering a wave of selling by oil traders in April.
