Global Oil Prices Rise to US$66/Barrel (Monday, May 17, 2021)

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Yosepha Pusparisa 17/05/2021 10:47 WIB

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Global oil prices rose on Monday, May 17, 2021, reaching US$69 per barrel for Brent crude by 09:55 WIB. Similarly, WTI crude also climbed to US$65.64 per barrel, a 0.17% increase.

Global Crude Oil Price (May 17, 2021, 09:55 WIB)

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Global Oil Prices Rise to US$66/Barrel (Monday, May 17, 2021)

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Global Crude Oil Price (May 17, 2021, 09:55 WIB)

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Global oil prices rose 0.13% on Monday, May 17, 2021, as of 09:55 WIB. Brent crude traded at US$69/barrel, while West Texas Intermediate (WTI) increased by 0.17% to US$65.64/barrel.

Global oil trading opened stronger, in line with recovering demand in several regions, boosting optimism for fuel consumption. This strengthening is still overshadowed by volatile Covid-19 cases in parts of Asia, as quoted by Bloomberg.

The United States and China, along with Europe, are showing strong recoveries from the Covid-19 pandemic. This improvement is supported by accelerated vaccination rates.

Editor : Aria W. Yudhistira

"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."