RTTNews | Oct 18, 2021 12:55PM EDT

11:23 Monday, October 18, 2021 (RTTNews.com) - Bermuda-based oil and gas company, FLEX LNG Ltd. (FLNG), is trading 9% higher on Monday as oil price rally continues amid expectations that easing restrictions around the world would help the recovery in fuel consumption. Benchmark Brent crude futures rose 86 cents, or 1 percent, to $85.72 a barrel, after hitting a session high of $86.04, the highest price since October 2018. U.S. West Texas Intermediate (WTI) crude futures were up $1.16, or 1.4 percent, at $82.89 a barrel, after having hit a session high of $83.73, the highest price since October 2014. Flex LNG is trading at an all-time high, rising almost 25% in the last month. The stock is trading at $20.87, up $1.89 or 9.96% since its previous close at $18.98. The stock opened at $19.63 in the morning. In the 52-week period, the shares have ranged between $6.20 and $20.95 per share.

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