Oil prices jump as US House passes stimulus bill
Published: 07:03 PM,Mar 01,2021 | EDITED : 06:04 PM,Apr 29,2024
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SINGAPORE: Oil prices rebounded more than $1 on Monday after the US House of Representatives passed a huge stimulus package.
Brent crude futures for May rose $1.24, or 1.9 per cent, to $65.66 per barrel.
US West Texas Intermediate crude futures jumped $1.18, or 1.9 per cent, to $62.68 a barrel.
Front-month prices for both contracts touched 13-month highs last week, slipping back on Friday along with wider financial markets following a bond rout amid inflation fears.
— Reuters