FX.co ★ Brent oil soars to 2-year high

According to experts' estimates, prices for Brent crude, the global benchmark, showed the best weekly growth in the last two years. Economic reports from the United States had a good impact on oil prices, restraining the market from falling. On January 4, Brent futures rose 9.3 percent for the week while WTI added 5.8 percent.

According to analysts, the rally in the US stock market, as well as the strong employment report, were the main drivers of prices growth. A positive contribution was also made by the reduction of oil production in Saudi Arabia and Libya.