Will there be a return of $100 oil?
Maglan Capital President David Tawil discusses the state of the oil industry
Oil prices held near multi-year highs on Monday, underpinned by an improved outlook for demand as increased COVID-19 vaccinations help lift travel curbs.
Brent crude was up 14 cents, or 0.2%, at $72.83 by 0123 GMT. It rose 1.1% last week and hit the highest since May 2019 of $73.09 on Friday.
U.S. West Texas Intermediate was also up 14 cents, or 0.2%, at $71.05 a barrel, after reaching the highest since October 2018 at $71.24 on Friday and rising 1.9% on the week.
INFLATION: OIL HITS 2018 HIGIH IN THIRD WEEK OF GAINS