Oil price hits highest level since March
The price has been supported by lower US crude inventories, Opec-led supply cuts and recovering demand
21 May 2020 - 11:53
Tokyo — Oil rose on Thursday to its highest since March, supported by lower US crude inventories, Opec-led supply cuts and recovering demand as governments ease restrictions on people's movements imposed due to the coronavirus crisis.
Crude prices have slumped in 2020, with global benchmark Brent hitting a 21-year low below $16 in April as demand collapsed. With fuel use rising and mounting signs that the supply glut is being tackled, Brent has since more than doubled...
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