SINGAPORE—Brent crude futures jumped above $70 a barrel on March 8 for the first time since the COVID-19 pandemic began, while U.S. crude touched its highest in more than two years, following reports of attacks on Saudi Arabian oil facilities.
Brent crude futures for May reached $71.16 a barrel in early Asian trade and were at $70.76 a barrel by 0036 GMT, up $1.40, or 2 percent. U.S. West Texas Intermediate (WTI) crude for April rose $1.32, or 2 percent, to $67.41. The front-month WTI price touched $67.86 a barrel earlier, the highest since October 2018.
