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.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
