Brent Oil Trades Above $59 for Barrel for First Time Since 21 February, 2020

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Oil pump jack - Sputnik International, 1920, 04.02.2021
MOSCOW (Sputnik) - The price of Brent crude futures rose above $59 per barrel for the first time since 21 February, 2020, trading data shows on Thursday.

As of 10:58 Moscow time (07:58 GMT), April futures for Brent crude were trading up by 0.31 percent at $58.87 per barrel. Just minutes earlier, they topped $59 per barrel. Meanwhile, March futures for the WTI oil are trading up by 0.77 percent at $56.12 per barrel.

In December 2020 Brent crude passed $50 per barrel for the first time since since 5 March, 2020 after months that witnessed prices go through the floor, as futures dipped into unprecedented negative territory in April.

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