Wednesday, January 24, 2018

Oil at highest price since 2014 as Brent crosses over $70 per barrel, and WTI over $65

A combination of the falling dollar and rising price inflation appears to be hitting the oil markets just as they are the precious metal ones as WTI and Brent prices reach levels not seen since December of 2014.

On Jan. 24 the price of crude in U.S. markets (WTI) crossed over $65 per barrel and the London Brent price also moved higher to cross over $70.


Colder weather in the U.S. and Europe have also played a factor in higher prices as even East Coast refineries have had to purchase energy supplies from Russian producers.


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