Oil prices rise as demand improves boosted by fiscal recovery, supplies tighten

Oil prices rose on Monday, hitting their highest levels in more than two years supported by economic recovery and the prospect of fuel demand growth as vaccination campaigns in developed countries accelerate.

Brent was up 85 cents, or 1.2 percent, at $73.54 a barrel by 0908 GMT, their highest since April 2019.

US West Texas Intermediate gained 72 cents, or 1 percent, to $71.63 a barrel, their highest since October 2018.

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