Brent Crude Tops $69 Per Barrel First Time Since 8 January 2020

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Oil pump jack - Sputnik International, 1920, 05.03.2021
MOSCOW (Sputnik) - Brent crude futures broke through $69 per barrel for the first time since 8 January last year.

As of 14:41 GMT, the price of May futures for Brent oil mixture grew by 3.28 percent to $68.92, trading above $69 per barrel just minutes earlier. April futures for WTI oil grew by 3.1 percent to $65.81 per barrel.

Oil quotes are growing for the third trading session in a row on news from OPEC+. On 4 March, the alliance decided not to increase production in April, and Saudi Arabia will also maintain its additional reduction of 1 million barrels per day.

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