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Oil Price Hits $85 A Barrel For The First Time In Three years

Posted by Amarachi on Fri 15th Oct, 2021 - tori.ng

Brent crude futures traded as high as $85.07 a barrel on Friday morning, and US West Texas Intermediate (WTI) crude futures rose 0.85 per cent to $82 a barrel.

oil

Oil Price Hits $85 A Barrel For The First Time In Three years

Brent oil just topped $85 a barrel for the first time since October 2018 which is a major gain for the Nigerian oil export revenue.

Brent crude futures traded as high as $85.07 a barrel on Friday morning, and US West Texas Intermediate (WTI) crude futures rose 0.85 percent to $82 a barrel.

This is coming after the Organisation of Petroleum Exporting Countries (OPEC) and its allies agreed to maintain its gradual monthly oil production increase.