Worldbulletin News

Worldbulletin News Worldbulletin News Portal


23:12, 25 May 2018 Friday
16:56, 17 May 2018 Thursday

  • Share
Brent oil surges above $80 for first time since 2014
Brent oil surges above $80 for first time since 2014

European stock markets meanwhile rose as the euro weakened against the dollar, but Wall Street pulled back in early New York trading.

World Bulletin / News Desk

Benchmark oil contract Brent North Sea briefly surged above $80 a barrel Thursday, hitting its highest level since late 2014 and extending a recent run higher fuelled by tight supply concerns.

Brent North Sea crude for delivery in July jumped to $80.18 a barrel in the late European morning -- the highest level since November 2014 -- after a gain of more than one percent compared with Wednesday's close.

By mid-afternoon it had pulled back to $79.65, still 37 cents higher from Wednesday.

Global oil supplies could be hit by President Donald Trump's decision to pull the United States out of the Iran nuclear deal, and also by falling production in crisis-hit Venezuela, the International Energy Agency said on Wednesday.



Related brent oil
Legal Notice: Copyright, trade marks and other intellectual property rights in this website can not be reproduced without the prior permission.

  • Share