Oil prices continued to rally on Thursday, reaching their highest level since October 2018, on the back of reopening of the global economy, easing of lockdown restrictions across western nations, and resumption of trade flows. At 14:10 GMT, Brent, the international benchmark for two-thirds of the world’s oil, gained 0.64 percent to reach $72.68 a barrel. Likewise, the US West Texas Intermediate (WTI) reached $70.41, up 0.64 percent. The price for Opec Basket was recorded at $69.81 a barrel with 0.57 percent decrease, Arab Light was available at $71.50 a barrel with 0.83 percent decrease, while the price of Russian Sokol reached $72.42 after shedding 0.86 percent. Oil prices rose a day after slipping on data indicating weak US driving season fuel demand as investors eyed upcoming US economic data. According to analysts, the market is recovering impressively from Wednesday’s dismal weekly EIA report, as the drop in weekly gasoline demand was particularly disappointing. They said that US inflation data and jobless claims would provide more direction on the health of the world’s biggest economy and clues as to whether the Federal Reserve might start tapering stimulus.