
Brent crude hit a three-month high on Monday, extending gains that have lifted crude benchmarks by more than a third from this year’s lows on an improving global outlook and stronger sentiment for a market recovery.
Front-month Brent crude futures LCOc1 traded as high as $39.50, the highest since early December, and were trading at $39.30 a barrel at 1230 GMT, up 58 cents from their last settlement. In January, prices fell to levels not seen since 2003.
U.S. West Texas Intermediate (WTI) futures fetched $36.53 a barrel, up 61 cents from the last close. The day’s high of $36.72 was more than 40 percent above February lows.
The May WTI contract settled on Friday at $35.92 a barrel, up 3.91 percent.
via Reuters
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.