Crude oil prices are back above $60 a barrel for the first time since December.
Advertisement
In early trade Tuesday, the price of West Texas Intermediate crude oil was up about 2% to above $60 a barrel for the first time in about five months. Prices have crept higher since WTI hit a low of $43 back in March.
Brent crude oil, the international benchmark, is trading at about $67 a barrel.
The latest rally in crude comes after Saudi Arabian oil minister Ali Al-Naimi said oil prices were not set by OPEC or anyone else in the market but were "up to Allah."
Here's the price of WTI on Tuesday.
Advertisement
And here's the move higher in oil prices since the bottom in March.
