Prices then edged back, with Brent at $64.54 per barrel and WTI at $57.42 per barrel in early trading on Friday.
The increase, which has seen oil prices climb by close to $10 per barrel so far in April, is in response to a possible choking of supply due to sustained bombing by Saudi forces of neighbouring Yemen.
Each day, 3.4 million barrels of oil pass through the strait of Bab-el-Mandeb and the Gulf of Aden on Yemen’s southern coast bound for Europe.
Data showing a larger-than-expected draw on crude stocks at a key US storage centre in Cushing, Oklahoma and a weaker dollar are also factors in the rally.
Oil prices had dropped on Wednesday, after Saudi-led forces announced a conclusion of air strikes against the Houthi rebels in its neighbouring country. However, despite the statement from Riyadh, bombing continued on Thursday, with prices steady in early trading.
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