Brent crude settled up 8 cents to US$54.38 a barrel after touching $54.90, a high not seen since before the first COVID-19 lockdowns in the West. U.S. West Texas Intermediate (WTI) settled up 20 cents to $50.83, after hitting a session high at $51.28.
NEW YORK: Oil prices settled higher on Thursday, hitting 11-month peaks, as markets remained focused on Saudi Arabia's unexpected pledge to deepen its oil cuts and firmer equities, shrugging off political turmoil in the United States.
Brent crude settled up 8 cents to US$54.38 a barrel after touching $54.90, a high not seen since before the first COVID-19 lockdowns in the West.
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