Brent crude futures hit $ 60 a barrel for the first time in more than a year, backed by hopes of economic recovery and supply restrictions on the part of the producer group that includes OPEC and its allies .
According to Arabiyanet, citing global stock exchanges, Brent crude futures rose 1.2% on the London Stock Exchange. April settlement contracts rose by 69 cents to $ 60.03 a barrel on the European ICE Futures Exchange, the highest oil level since January 26, 2020, according to Bloomberg calculations.
And Texas crude futures rose in March, by 1.2% to $ 57.53 a barrel, on the New York Mercantile Exchange after gains of 1.1% on Friday.
Aramco raised its official selling price for Arab Light crude, which it produces to northwestern Europe, in March by $ 1.40 a barrel from the previous month.
OPEC and its allies, as part of the OPEC + group, adhered to their policy of curbing supplies at Wednesday's meeting. The unprecedented OPEC + cuts helped lift prices from record lows last year.
Baker Hughes Energy Services reported that the number of oil rigs in the United States, an early indicator of the future of production, rose for the fifth month in a row. The number of excavators this week rose four to 299, the highest level since May.
