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Today, a jump in oil prices
- Time: 10/25/2021 08:54:09
- Reading: 1,404 times
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{Economic: Al Furat News} Oil prices jumped on Monday, continuing their gains to reach their highest levels in several years, as global supplies remained scarce amid strong demand for fuel in the United States and elsewhere in the world as economies recovered from the Corona virus epidemic. Caused depression.
US West Texas Intermediate crude futures rose 77 cents, or 1.0 percent, to $84.53 a barrel at 05:30 GMT, after rising 1.5 percent on Friday.
Brent crude futures rose 71 cents, or 0.8%, to $86.24 a barrel, after last Friday's 1.1% gain.
After more than a year of reduced demand for fuel, consumption of gasoline and distillates is back in line with five-year averages in the United States, the world's largest consumer of fuel.
Meanwhile, US energy companies last week halted oil and natural gas drilling for the first time in seven weeks even as oil prices rose, energy services firm Baker Hughes said in its closely watched report on Friday.
Oil prices were also boosted by concerns about coal and gas shortages in China, India and Europe, prompting a shift to diesel and fuel oil for power generation.
[You must be registered and logged in to see this link.]
{Economic: Al Furat News} Oil prices jumped on Monday, continuing their gains to reach their highest levels in several years, as global supplies remained scarce amid strong demand for fuel in the United States and elsewhere in the world as economies recovered from the Corona virus epidemic. Caused depression.
US West Texas Intermediate crude futures rose 77 cents, or 1.0 percent, to $84.53 a barrel at 05:30 GMT, after rising 1.5 percent on Friday.
Brent crude futures rose 71 cents, or 0.8%, to $86.24 a barrel, after last Friday's 1.1% gain.
After more than a year of reduced demand for fuel, consumption of gasoline and distillates is back in line with five-year averages in the United States, the world's largest consumer of fuel.
Meanwhile, US energy companies last week halted oil and natural gas drilling for the first time in seven weeks even as oil prices rose, energy services firm Baker Hughes said in its closely watched report on Friday.
Oil prices were also boosted by concerns about coal and gas shortages in China, India and Europe, prompting a shift to diesel and fuel oil for power generation.
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