Oil prices increase in world markets

Economy/International

23-04-2021, 16:10

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Follow up-INA

Oil prices rose on Friday, supported by hopes of a recovery in demand with the recovery of economic growth and the decline in the closure.

Brent crude futures rose 42 cents, or 0.6 percent, to $ 65.82 a barrel, after rising eight cents on Thursday.

West Texas Intermediate (WTI) crude futures jumped 51 cents, or 0.8%, to $ 61.94 a barrel, after also rising 8 percent on Thursday.

"Oil prices rebounded for the second day in a row as the US jobless claims data, which came lower than expected, boosted the outlook for energy demand in North America," said Margaret Young, a strategist at DailyFX in Singapore.

"The recent macro data from the United States and China were encouraging, reflecting a strong economic recovery from the two largest economies in the world, while OPEC + is expected to keep current production plans unchanged at next week's meeting, which helps stabilize oil prices."