Oil prices hit 13-month high with demand optimism

Oil prices on Monday jumped to their highest level in 13 months with increasing hopes of a speedier oil demand recovery, with rising tensions in the Middle East and optimism over the $1.9 trillion US stimulus check.

International benchmark Brent crude was trading at $63.51 per barrel at 0702 GMT with a 1.72% increase after closing Friday at $62.43 a barrel. This is the highest price since Jan. 22 when it was trading at $64.58.

Reaching its highest level since Jan. 8 when it traded at $65.65, American benchmark West Texas Intermediate (WTI) increased by 2.15% to $60.75 per barrel at the same time relative to end-of-day trading at $59.47 a barrel during the previous session.

Valeura Energy Inc (LON:VLU) is an upstream oil & gas company, with a clear strategy to add value for shareholders. The Company has a strong balance sheet positioning it for potential inorganic growth opportunities in the near/medium-term, and substantial longer-term upside potential through an operated deep, tight gas play.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Valeura Energy

More articles like this

Valeura Energy

Oil nears $70

Oil prices rose for a third day on Wednesday as the easing of lockdowns in the United States and parts of Europe heralded an increase in fuel demand over the summer months and offset concerns about rising COVID-19

Valeura Energy

Valeura Energy virtual AGM to be held May 13, 2021

Valeura Energy Inc (LON:VLU), an upstream oil and gas company with assets in the Thrace Basin of Turkey, has announced revised arrangements for its 2021 Annual and Special Meeting of Shareholders and provides notice of its first quarter

Valeura Energy

Oil rises today

Oil prices edged higher on Tuesday as OPEC, Russia and their allies agreed to stick to plans to raise output slightly from May 1, suggesting they don’t see a lasting impact on demand from India’s coronavirus crisis. OPEC+,

Valeura Energy

Oil rises to $68 a barrel

Oil rose to $68 a barrel and hit its highest in a month on Tuesday, supported by a disruption to Libyan exports and expectations of a drop in U.S. crude inventories, although rising coronavirus cases in Asia limited

Valeura Energy

Oil price up to fresh 4-week highs

Oil prices edged up to fresh four-week highs on Thursday on positive U.S. economic data and higher demand forecasts from the International Energy Agency (IEA) and OPEC as countries start to recover from the COVID-19 pandemic. After rising

Valeura Energy

Oil prices tick up after robust China data

Oil prices ticked up on Tuesday after strong Chinese import data but markets broadly shrugged off Middle East tensions which have so far not disrupted oil supply. Brent crude oil futures were up 25 cents, or 0.4%, at