Oil rose to above $75/barrel with OPEC+ fail to reach an agreement

International benchmarks for crude oil rose to above the $75/barrel for the first time since 2018 on Thursday, 1 July 2021 even members of the OPEC+ alliance failed to reach an agreement on the production output. The group of producers earlier signaled to boost output by 400,000 barrels/day each month from August to December.

Brent for September delivery $1.22 to $75.84/barrel.

WTI climbed $1.76 to $75.23/barrel.