Brent rises past $70 for first time since pandemic

Brent crude futures climbed above $70 a barrel on Monday for the first time since the COVID-19 pandemic began, while U.S. crude touched its highest in more than two years, following reports of attacks on Saudi Arabian facilities.

Brent crude futures for May hit $71.38 a barrel in early Asian trade, the highest since Jan. 8, 2020, and were at $70.56 a barrel by 0730 GMT, up $1.20, or 1.7%.

U.S. West Texas Intermediate (WTI) crude for April rose $1.08, or 1.6%, to $67.17. The front-month WTI price touched $67.98 a barrel earlier, the highest since October 2018.

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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