Price of Brent crude exceeds US$74 per barrel for first time since 2019

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For the first time since April 2019, the price of Brent crude rose above US$74 per barrel. U.S. West Texas Intermediate (WTI) crude also rose in price to US$72 per barrel or almost 2 percent. Analysts have attributed the rise in global oil prices to the lifting of quarantine restrictions in many countries. The International Energy Agency had previously projected a recovery in oil demand to pre-crisis levels by the end of 2022.

Translation by Assem Zhanmukhanova

Editing by Saule Mukhamejanova

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