Oil holds near multi-year highs amid demand recovery By Reuters – Investing.com

Oil holds near multi-year highs amid demand recovery By Reuters – Investing.com

TOKYO (Reuters) - Oil prices held near multi-year highs on Monday (NASDAQ:), underpinned by an improved outlook for demand as increased COVID-19 vaccinations help lift travel curbs.

was up 14 cents, or 0.2%, at $72.83 by 0123 GMT. It rose 1.1% last week and hit the highest since May 2019 of $73.09 on Friday.

U.S. West Texas Intermediate was also up 14 cents, or 0.2%, at $71.05 a barrel, after reaching the highest since October 2018 at $71.24 on Friday and rising 1.9% on the week.