Oil touches fresh 11-month highs, shrugging off unrest in Washington | Reuters
Oil prices rose on Thursday, shrugging off surprising political unrest in the United States, as markets remain focused on Saudi Arabia’s pledge to cut oil output by more than expected.
Brent crude rose 28 cents to $54.58 a barrel by 11:35 a.m. EST (1635 GMT) after touching $54.90, a fresh high not seen since before the first COVID-19 lockdowns in the West.
U.S. West Texas Intermediate (WTI) was up 30 cents to $50.93, after hitting a high at $51.28.
On Wednesday, a mob of President Donald Trump’s supporters stormed the U.S. Capitol after he urged them to protest Congress’s validation of his election loss. Crude futures prices briefly dipped during the unrest.
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