Brent crude tops USD 70 with bullish demand outlook

Brent crude reached USD 70 per barrel Tuesday due to optimism about the demand outlook in key regions and signs that a glut built up last year has been whittled away.

Photo: Maersk Drilling

Brent oil topped USD 70 a barrel with optimism building about the demand outlook in key regions such as the US, and on signs that a glut built up last year has been whittled away.

The global benchmark added as much as 1.1 percent reaching its highest since March 8, while US crude futures briefly topped USD 67 a barrel. The global benchmark hasn't had a sustained period above USD 70 since 2019.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

"Mixed lobbying" hinders Maersk from elite status on climate efforts

Think tank InfluenceMap has mapped out how well global companies like Unilever, Ikea and Maersk are performing in terms of meeting climate requirements and whether their words match their deeds. Ambiguous communication stands in the way of Maersk reaching the top, the think tank explains to ShippingWatch.

Danske Bank makes commitment to CO2 neutral loan portfolio by 2050

By 2050 at the latest, Danske Bank's loan portfolio must be fully CO2 neutral. The bank, which provides loans to shipping as well as the oil and gas sector and also supports the Poseidon Principles, isn't ready yet to set out short-term intermediate targets on the road towards CO2 neutrality.

Further reading

Related articles

Trial banner

Latest news

See all jobs