Oil is at a peak of 13 months

Oil prices rose today, to their highest levels in nearly 13 months, as the escalation of tension in the Middle East stimulated new purchases, while crude received support from hopes that an American stimulus and easing the general isolation measures will feed the demand for fuel.

Brent crude rose $ 1.02, or 1.6%, to $ 63.45 a barrel, after reaching its highest level during the session at $ 63.76, the highest since January 22, 2020.

US West Texas Intermediate crude futures gained $ 1.28, or 2.2%, to $ 60.75 a barrel.

It touched $ 60.95, its highest level since Jan. 8, earlier in the session.

Oil prices gained about 5% last week.

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