Oil prices jumped about 3% to a 13-week high today as U.S. demand for gasoline has kept rising despite record pump prices, on expectations China’s oil demand will increase, and on growing supply concerns in several countries.

Brent futures rose $3.59, to $124.16 a barrel.

U.S. West Texas Intermediate crude rose $3.49 to $122.90.

Brent and West Texas Intermediate (WTI) were on track for their highest settlements since March 8, which were their highest since 2008.

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Yvad Billings Readers Bureau, Contributor

Edited by Jesus Chan

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