Oil hits 13-month highs as market re-balances
LONDON: Oil prices soared on Monday to their highest in about 13 months as vaccine rollouts promised to revive demand and producers kept supply reined in.
Brent crude was up 88 cents, or 1.4%, at $63.31 a barrel at 1320 GMT, after climbing to a session high of $63.76, the highest since Jan. 22, 2020.
US West Texas Intermediate (WTI) crude futures gained $1.14, or 2%, to $60.61 a barrel. It touched $60.95 – its highest since Jan. 8 last year, earlier in the session.
