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.