Oil Prices Climb

Oil rose more than 1% yesterday as Chinese economic figures and US vaccination rate pointed to a strong rebound in demand in the world’s two largest economies. Investors remain wary, however, over record-breaking infection rates in India, along with higher OPEC+ oil supply.

Brent crude rose 74 cents, or 1.1%, to US$67.50 a barrel. US West Texas Intermediate rose 80 cents, or 1.3%, to US$64.38 a barrel.