Oil Prices Top US$70 Per Barrel For First Time Since 2014

Published on 12 January 2018

The price of global benchmark Brent crude oil jumped 1.2% in trading today to its highest level since December 2014, rising above the US$70 per barrel mark for the first time in three years amid ongoing production cuts and surging demand, according to Bloomberg.

Paul Horsnell, head of commodities research at Standard Chartered in London, commented: “Pretty much all of the fundamental boxes are supportive of the current rally and a bit more.”

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