Posted April 14, 2020 03:18:30Oil prices have jumped to $115 per barrel over the past three days, with the Brent crude index increasing by more than 60 per cent in the past week, according to Bloomberg data.
But the world’s largest producer of crude oil, the U.S., is still a long way from the $110 per barrel level that was expected on March 31, the data show.
The U.K. crude oil index rose by 10.1 per cent, the European Union’s benchmark crude index by more to 2.1, and the Australian benchmark rose by 1.8 per cent.
For more on oil, watch:As of Friday, oil prices stood at $115.42 a barrel, according the Bloomberg data, up 5.1 cents from Friday’s close.
That was the second-highest weekly price since April 21.
On Monday, the Brent index jumped by 11.5 per cent to $113.62 a barrel.
That pushed the index above the $114.00 level that would have been reached on March 1, when Brent hit $114 a barrel in a trading session that was highlighted by oil prices trading at the highest levels in history.
For the week, Brent crude prices have been trading at $117.00, up by more or less 40 cents from the previous week.
That’s still below the $118.00 levels reached in January.