(MENAFN) On Friday, May. 7 oil prices climbed over an estimated uptake in global oil demand amidst gradual vaccine distributions in the US, Europe and China, and positive economic figures from the US and China.
The trade of international benchmark Brent crude stood at USD68.50 a barrel at 0633 GMT for a 0.60 percent rise after concluding Thursday at USD68.09 a barrel.
American benchmark West Texas Intermediate (WTI) came in at USD65.09 a barrel at the same time for a 0.58 percent climb after it concluded the prior session at USD64.71 per barrel.
Oil prices found backing from the alleviation of coronavirus constraints in the US and Europe, whereas the ongoing vaccine drives are lifting hopes for an economic revival. The upcoming summer season also supports higher prices, as more travel is projected to bolster gasoline and jet fuel demand.
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