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Oil surged on strong demand outlookOil surged on strong demand outlook |
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International benchmarks for crude oil extended the firming trend on Monday, 11 October 2021 as the demand outlook remains strong globally. Industry experts said that the skyrocketing natural gas prices have encouraged power generators to switch to crude, at the time that OPEC+ decided to hold back from further easing production outputs.
Brent rose $1.26 or 1.5% to close at $83.65/barrel.
WTI gained $1.17 or 1.5% to close at $80.52/barrel.
