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Brent crude spikes past US$70 for first time since Covid after attack on Saudi facilities

Reuters
Reuters3/8/2021 2:44 PM GMT+08  • 2 min read
Brent crude spikes past US$70 for first time since Covid after attack on Saudi facilities
Brent crude futures hit $71.38 a barrel, the highest since January 8, 2020.
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Brent crude futures surged above US$70 ($93.91) a barrel on Monday for the first time since the Covid-19 pandemic began, while US crude touched its highest in more than two years, following reports of attacks on Saudi Arabian facilities.

Brent crude futures for May hit US$71.38 a barrel in early Asian trade, the highest since January 8, 2020, and were at US$71.11 a barrel by 0255 GMT, up US$1.75, or 2.5%.

US West Texas Intermediate (WTI) crude for April rose US$1.60, or 2.4%, to US$67.69. The front-month WTI price touched US$67.98 a barrel earlier, the highest since October 2018.

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