Singapore Oil prices rise to highest in a year on US growth optimism, crude supply restraint

Share This Post


Oil prices climbed on Friday to their highest levels in a year, extending a run of strong gains on signs of economic growth in the United States and a continued commitment by producers to hold back crude supply.

“Rising confidence in an upturn in economic and oil demand recovery around the corner is a major impetus for crude,” said Vandana Hari, energy analyst at Vanda Insights.

“Right now, the concurrent tightening of supply due to the additional Saudi cuts is adding to the tailwinds,” Hari said. “Brent may be well on its way to the $60 milestone.”

Subscribe To Our Newsletter

Get updates and learn from the best

More To Explore

Do You Want To Boost Your Business?

drop us a line and keep in touch

Scroll to Top