Oil prices spike above $30 for first time in over a month
Oil prices climbed above $30 for the first time in more than a month Monday as production cuts by the world’s largest producers and a slow return of demand continue to provide support.
West Texas Intermediate crude oil, the U.S. benchmark, gained 8.12 percent to $31.82 per barrel and closed above $30 for the first time since April 8. Brent crude, the international standard, was higher by 7.11 percent at $34.81 a barrel.
WTI futures for June delivery expire Tuesday with prices having seen a sharp reversal from last month’s memorable drop below zero.
Source: https://www.foxbusiness.com/markets/oil-prices-spike-above-30-first-time-over-month
