Oil rallies above $75 for first time since April 2019

Global prices for crude extended their rally, pushing above $75 a barrel for the first time since April 2019, as a rapid rebound from the Covid-19 pandemic across the world underpins increasing fuel consumption.

The international benchmark Brent rose 0.36% to $75.17 per barrel as of 6:32am GMT on Tuesday. West Texas Intermediate, which tracks US crude grades, grew by a modest 0.05% to $73.66 per barrel.

Brent oil has rallied more than 40% since the beginning of the year as the fuel demand outlook has been rapidly improving amid strong economic recoveries in the US, China and Europe.

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About AISU

Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

AISU is a non-governmental organization of a private nature, not of a political or commercial nature.

AISU works in the field of preparing studies, organizing courses and holding periodic conferences for the prosperity of the Arab iron and steel industry. The union includes a wide range of companies with multiple activities related to the iron and steel industry.

Information About Union

92 Members

28 Board of Directors

17 Country

300.000 Employees

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