Oil hit its highest level in a year above $59 a barrel on Friday supported by hopes of a quicker economic revival and supply curbs by OPEC and its allies.

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Oil prices extended gains on Thursday after the OPEC+ alliance of major producers stuck to a reduced output policy, and as crude stockpiles in the United States fell to their lowest levels since March last year.

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Oil prices rose on Wednesday after hitting their highest in about a year in the previous session, boosted by an unexpected draw in U.S. crude and gasoline stocks, fuelling demand recovery hopes as OPEC+ forecasts the market will be in deficit in 2021.

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Oil prices rose around 1% on Tuesday after major crude producers showed they were reining in output roughly in line with their commitments, extending gains for a market thrown out of kilter by weak demand during the coronavirus pandemic.

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British and Dutch wholesale gas prices fell on Monday morning as forecasts for slightly higher temperatures reduced demand and higher liquefied natural gas send-out boosted supplies.

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Oil prices rose on Monday after a weak start, adding to the gains of the last three months, although patchy coronavirus vaccine rollouts, new infections and the discovery of new variants are casting a shadow over the demand outlook.

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British wholesale gas prices were mostly up on Friday morning due to expectations of colder temperatures.

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Oil prices were slightly lower in subdued trade on Friday, sticking to ranges seen over the past three weeks, as investors looked for signs of changing supply and demand fundamentals.

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Oil fell on Thursday on fresh fuel demand worries because of travel curbs to prevent new coronavirus outbreaks and delays with vaccines and a stronger U.S. dollar weighed on prices.

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Oil prices climbed on Wednesday after industry data showed U.S. crude stockpiles fell unexpectedly last week and China, the world’s second-biggest oil user, recorded its lowest daily rise in COVID-19 cases in more than two weeks.

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