Brent hits $60

Brent oil price briefly hit over $60 a barrel on Monday on the back of tightened global oil supplies and raised hopes over the passing of the US stimulus package.

International benchmark Brent crude was trading at $59.78 per barrel at 0656 GMT with a 0.74% increase after closing Friday at $59.34 a barrel.

American benchmark West Texas Intermediate (WTI) traded at $57.35 per barrel at the same time for a 0.88% increase after it ended the previous session at $56.85 a barrel.

PetroNeft Resources plc (LON:PTR) is an international oil and gas exploration and production company, focussed on Russia. The company’s shares are listed on the London AIM and Dublin ESM Markets.

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