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Oil jumps 4% as US gasoline rises to a record level

2022-05-14T13:56:55.336Z

New York, SANA- Oil prices rose by about four percent after gasoline prices in the United States recorded the highest



New York-Sana

Oil prices rose about four percent after gasoline prices in the United States hit an all-time high.

According to Reuters, Brent crude futures increased by 3.8 percent to $111.55 a barrel upon settlement, and US West Texas Intermediate crude futures rose 4.1 percent to $110.49 a barrel.

US gasoline futures rose to an all-time high after inventories fell for the sixth consecutive week and this boosted refining profit margins to their highest levels since hitting a record in April 2020.

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Source: sena

All business articles on 2022-05-14

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