Crude benchmarks rise 90% from December lows, reflecting renewed strength in the energy market amid tightening supply and resilience in demand.
U.S. oil prices climbed above $104 per barrel, marking their highest level since July 2022. The surge represents a roughly 90% increase from the December 2024 lows, underscoring strong demand and possible supply constraints in global energy markets. Analysts often view such sharp rebounds as signals of economic recovery momentum or tightening production from major oil-exporting nations.