Process of reopening some economies causes oil to rise
On Monday (18), oil hit a strong high, extending last week's gains and reaching the highest level in two months. The result is a consequence of the process of reopening some economies in the world, such as Europe and the United States and the resumption of impo
rts in China.At 8:32 a.m. ET, Brent crude rose $2.1, or 6.46 percent, to $34.6 per barrel. U.S. crude advanced $2.8, or 9.51 percent, to $32.23 per barrel. Meanwhile, energy giants Total, BP and Royal Dutch Shell rose nearly 6%.
In addition to the relief stemming from social restriction measures, the resumption of consumption of gasoline and other oil products in China cheers commodity investors.
