Oil prices continued to rise on Monday, for the fifth daily trading session in a row, as Brent crude exceeded the $ 79 a barrel barrier and approached the levels of $ 80. the increase in global demand for crude in light of the easing of restrictions related to the Corona pandemic has helped to push oil prices higher.
ANZ said in a note reported by "Reuters" that the tightening of supply caused the withdrawal of stocks in all regions worldwide. At the same time, crude continues to receive support from broader concerns related to tightening market conditions.
In terms of trading, Brent crude futures for November delivery rose 1.4% to $79.20 a barrel. Also, West Texas crude for November delivery rose by 1.5% to $75.08 a barrel.
