Global Oil Prices Rise to US$69.86 per Barrel (Monday, March 15)

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Yosepha Pusparisa 15/03/2021 10:58 WIB

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Global crude oil prices continued to strengthen until Monday (March 15th) at 09:53 WIB. Brent crude traded at US$69.86/barrel, up 0.55% from the previous day's trading. WTI crude traded at US$66.28/ba

Global Crude Oil Price (March 15, 2021, 09:53 WIB)

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Global Oil Prices Rise to US$69.86 per Barrel (Monday, March 15)

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Global Crude Oil Price (March 15, 2021, 09:53 WIB)

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Global crude oil prices continued to strengthen until Monday, March 15, 2021, at 09:53 WIB. Brent crude oil was traded at US$69.86/barrel, up 0.55% from the previous day's trading. During the same period, West Texas Intermediate (WTI) crude oil was traded at US$66.28/barrel, strengthening by 0.49%.

The price increase is suspected to be due to supply cuts from several major producers. In addition, optimism regarding an improvement in the global economy is accompanied by a recovery in fuel demand in the second half of 2021, as quoted by Reuters.

Investors are awaiting economic data to be published by China. As the world's second-largest oil consumer, this data will indicate improvements in the manufacturing and retail industries.

Editor : Muhammad Ahsan Ridhoi

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."