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On Monday (2/8), oil prices hit their highest levels in several months, with Brent surpassing the $60/barrel mark, which it had neared on Friday (2/5).
WTI rose 7% over one week ago (+$3.67), hitting $57.76 per barrel.
Brent started the day at $60.22 per barrel, up 6% (or +$3.33) from last Monday (2/1).
The increases can be credited to things that we have echoed in previous weeks, including the COVID-19 vaccine deployment, increasing demand with declining supply as well as cuts by OPEC+.
However, this week got an additional boost from China, who has ordered several tankers of oil after months of subdued import activity.
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