Oil prices stabilized at nearly two-year highs due to improved U.S. demand prospects

According to Bloomberg News on May 18: Although the coronavirus has made a comeback in parts of Asia, oil still rose to a nearly two-year high due to the optimistic outlook for demand in major regions such as the United States.

The New York futures price is close to 66 US dollars per barrel, up nearly 4% in the previous two trading days.

As vaccination work accelerates in major economies and increases liquidity, people are optimistic that fuel demand will increase, and oil prices have risen by more than 35% this year.

The spot premium for Brent crude oil is 32 cents per barrel, which is a bullish structure because recent contracts are more expensive than forward contracts.

Data from the US Transportation Security Administration showed that the number of passengers passing through US airport security on Sunday surged to 1.

Feng Juan excerpted and translated from Bloomberg

The original text is as follows:

Oil Steady Near Two-Year High on Improving US Demand Outlook

Oil held gains near a two-year high with optimism building about the demand outlook in key regions such as the US, even as the coronavirus makes a comeback in parts of Asia.

Futures in New York traded near $66 a barrel after rising almost 4% over the previous two sessions.

　　Oil is up more than 35% this year amid optimism fuel demand will increase as the vaccination drive accelerates across major economies and boosts mobility.

　　The prompt timespread for Brent was 32 cents a barrel in backwardation - a bullish structure were near-dated contracts are more expensive than later-dated ones.

　　Passengers checking in through security at US airports surged to 1.