Oil trades at multi-year highs on demand expectations

LONDON: Oil prices reached their highest in more than two years on Tuesday, buoyed by expectations demand will recover rapidly in the second half of 2021.

Brent crude rose 78 cents, or 1.1%, at $73.64 a barrel by 1311 GMT, the highest since late April 2019. US oil gained 88 cents, or 1.2%, to $71.76 a barrel, a 32-month high.