Brent hops past $70 for first time since pandemic began after #Saudi attack | Reuters

Brent hops past $70 for first time since pandemic began after Saudi attack | Reuters

Brent crude futures climbed above $70 a barrel on Monday for the first time since the COVID-19 pandemic began, while U.S. crude touched its highest in more than two years, following reports of attacks on Saudi Arabian facilities.

Brent crude futures for May hit $71.38 a barrel in early Asian trade, the highest since Jan. 8, 2020, and were at $70.56 a barrel by 0730 GMT, up $1.20, or 1.7%.

U.S. West Texas Intermediate (WTI) crude for April rose $1.08, or 1.6%, to $67.17. The front-month WTI price touched $67.98 a barrel earlier, the highest since October 2018.

Asian stocks also rose after the U.S. Senate approved a $1.9 trillion stimulus bill while positive economic data from the United States and China bode well for a global economic rebound.