A report of better-than-expected growth in the European economy sent crude oil prices to new 2015 levels, with key indices up more than 2 percent Tuesday.

Brent crude oil prices were up more than 2 percent from the previous close to hit $67.83 in early Tuesday trading. Brent prices are up more than 2.5 percent since the start of May.

Crude oil prices plummeted in late 2014 as markets heavily favored the supply side because of a weakened economy and the increase in production from U.S. shale deposits. Low crude oil prices forced companies to spend less on exploration and production and the global economy has since gained momentum in 2015.

The European Commission expects real gross domestic production to increase across the European Union by 1.8 percent this year, higher than predicted by the commission three months ago.

"The European economy is enjoying its brightest spring in several years, with the upturn supported by both external factors and policy measures that are beginning to bear fruit," European Commissioner for Economic Affairs Pierre Moscovici said in a statement.

While the commissioner said "more needs to be done," real GDP next year should increase by 2.1 percent.

For 19 key economies in Europe, the seasonally-adjusted unemployment rate was 11.3 percent in March, relatively unchanged from February but down from the 11.7 percent for March 2014.

Eurostat, the statistical office of the EU, said last week the annual inflation rate for April was nil, up from the negative 0.1 percent for March.

West Texas Intermediate, the U.S. benchmark price, broke into new territory Tuesday, hitting its highest level for the year at $60.41. That's the highest price since Dec. 10 and marks a 2 percent increase since May 1.