Oil hit its highest level in a year on Friday, closing in on $60 a barrel on economic revival hopes and supply curbs by producer group OPEC and its allies.
New orders for U.S.-made goods rose more than expected in December, pointing to continued strength in manufacturing. The U.S. Congress is also moving ahead on President Joe Biden’s COVID-19 relief plan.
Brent crude was up 63 cents, or 1.1%, at $59.47 by 1200 GMT after hitting its highest since Feb. 20 last year at $59.75. U.S. crude was up 54 cents, or 1%, at $56.77, after reaching $57.09, its highest since Jan. 22 last year.
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