Oil prices rose during Monday’s trading, erasing the losses it recorded earlier in the day. Brent turned $ 67 higher again amid the dollar’s decline against most major currencies.
Johns Hopkins University announced that the number of Coronavirus infections worldwide has risen to more than 140 million, while the number of deaths has exceeded the level of 3 million cases.
OPEC raised its forecast for global demand growth this year, with support from efforts to control the Corona pandemic and distribute more vaccines, which means the global economy returns to recovery and more growth.
Government data released last Friday showed that the real reading of the Chinese GDP (the second largest economy in the world) recorded a growth of 18.3% during the first quarter, a growth consistent with analysts' expectations.
Separately, the dollar index fell (against a basket of major currencies) by 18:03 GMT, by 0.5% to 91.1 points, and recorded the highest level at 91.7 points and the lowest level at 91.03 points.
In terms of trading, US Nymex crude futures for May delivery by 18:00 GMT rose 0.5% to $ 63.4 a barrel, and crude recorded the highest price at $ 63.6 and the lowest price at $ 62.6.
Brent crude futures for June delivery rose 0.5% to $ 67.1 a barrel, and crude recorded the highest price at $ 67.2 and the lowest price at $ 66.1.
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