Oil prices extended gains on Thursday, supported by strong demand in the United States, while demand in China is expected to rebound with the easing of Covid-19 restrictions in major cities.
Brent crude futures for August rose 50 cents, or 0.4 percent, to $124.08 a barrel.
While US West Texas Intermediate crude for July reached $122.49 a barrel, up 38 cents, or 0.3 percent.
On Wednesday, both benchmarks closed at their highest level since March 8, matching levels seen in 2008.