Crude prices soar on stronger demand as countries begin to ease coronavirus restrictions

Oil prices jumped on Monday

Oil prices jumped on Monday boosted by output cuts and signs of recovery in demand for fuel as global economies have started easing curbs that were imposed to contain the spread of coronavirus.

Global benchmark Brent was up over eight percent to $35.31 a barrel as of 15:00 GMT. US West Texas Intermediate (WTI) crude soared nearly 12 percent to around $33 per barrel as its June contract expires on May 19.

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