Oil is heading for the biggest annual rise since 2016

London-Sana

Oil prices fell, but they are still heading towards achieving their largest annual gains since at least 2016, driven by the recovery of the global economy from the recession caused by the “Covid 19” pandemic.

Reuters reported that Brent crude futures fell $1.75 to $77.78 a barrel, while West Texas Intermediate crude futures fell $1.78, or $75.21 a barrel.

Brent crude ended the year with a 50.5 percent annual increase, its largest increase since 2016, while West Texas Intermediate crude recorded a 55.5 percent increase, the strongest performance since 2009, when prices jumped more than 70 percent.

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