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Oil hits 7-year high

2022-02-05T07:07:49.351Z


New York, SANA- Oil prices jumped to their highest level in seven years, continuing their rise for the seventh week as they continued


New York-Sana

Oil prices jumped to their highest level in seven years, continuing their rise for the seventh week, as fears of supply disruptions persist.

Reuters reported that Brent crude futures rose $2.16, or 2.4 percent, to settle at $93.27 a barrel, after earlier touching the highest level since October 2014 at $93.7 a barrel.

US West Texas Intermediate crude futures rose $2.04, or 2.3 percent, to settle at $92.31 a barrel, after trading at an increase of $93.17, the highest price since September 2014.

Brent crude ended the week up 3.6 percent, while West Texas Intermediate crude recorded a 6.3 percent increase, their biggest increase since October.

Source: sena

All business articles on 2022-02-05

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