Oil prices jump to highest in 14 months on Opec+ supply cuts
Brent and US West Texas Intermediate crude futures both jumped 2% and are on track for weekly gains
05 March 2021 - 12:55
London — Oil prices jumped more than 2% on Friday, hitting their highest in nearly 14 months after oil cartel Opec and allies (Opec+) agreed not to increase supply in April as they await a more substantial recovery in demand.
Brent crude futures were up $1.52, or 2.3%, at $68.26 a barrel by 10.08am GMT and US West Texas Intermediate (WTI) crude futures climbed $1.30, or 2%, to $65.13 as both remained on track for weekly gains...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.