Oil rises 1.5% as US House passes stimulus package

01/03/2021 Argaam

Oil prices rose on Monday supported by the progress in $1.9 trillion US stimulus package, and the upcoming meeting of the OPEC+.

 

International benchmark Brent crude was trading up 1.4% at $65.33 per barrel, at 9 am Makkah time.

 

WTI crude rose 1.5% to $62.40 per barrel.

 

US House of Representatives passed a $1.9 trillion coronavirus relief package on Saturday, Feb. 27, 2021, Reuters reported.

 

The US also approved the Johnson & Johnson COVID-19 vaccine, amid expectations that the company will ship more than 20 million doses by the end of March, and 100 million doses by mid-year.

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