Brent futures rose 30 cents, or 0.4%, to settle at US$72.52 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 33 cents, or 0.5%, to end at $70.29. Those were the highest closes for Brent since May 2019 and WTI since October 2018.
NEW YORK: Oil prices edged up to their highest in over two years in volatile trade on Thursday, on optimism for strong economic demand after new U.S. unemployment claims fell to their lowest since the country's first wave of COVID-19 last year.
The market shook off a brief plunge after media reports suggested the United States lifted sanctions on Iranian oil officials.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
