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News > World

Brent Crude Oil Tops $97 per Barrel Highest Since Sept. 2014

  • A member of staff refills the tank of a car at a gas station in Lianyungang City, east China's Jiangsu Province, Feb. 18, 2021.

    A member of staff refills the tank of a car at a gas station in Lianyungang City, east China's Jiangsu Province, Feb. 18, 2021. | Photo: Wang Jianmin/Xinhua

Published 21 February 2022
Opinion

Brent crude oil prices rose above $97 per barrel on Tuesday for the first time since September 30, 2014, according to stock market data.

By 01.38 GMT, Brent futures for April delivery were up 2.34 percent at $97.38 per barrel.

In turn, contracts for WTI-brand crude for April delivery were up 3.41 percent at $93.31 per barrel.

Last February 14, Brent crude oil price exceeded $96 per barrel for the first time since October 1, 2014.

As explained in January by Goldman Sachs Group analysts, quoted by The Wall Street Journal, the oil market has a large deficit. The impact of the Omicron variant of the coronavirus on demand is not as significant as expected.

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Oil Price Energy

Xinhua
by teleSUR/MS
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