Ice Brent crude breaches $60/ bbl for the first time in over a year

Oil

The front month contract price for Ice Brent crude oil increased to over $60/ bbl earlier today, the first time this value has been breached since January 24 2020, Argus reports. Oil prices have continued to build over recent months amidst increasing optimism in the global market, as sustained production curbs from the OPEC+ group continue to tighten supplies and worldwide vaccine rollouts gain momentum.