Brent crude tops $90 a barrel for the first time since 2014

Brent crude tops  a barrel for the first time since 2014

The cost of futures contracts for Brent crude oil for delivery in April 2022 on the London ICE exchange is growing by 1.63%, to $89.61 per barrel. This follows from the data of the trading platform at 17:27 Moscow time on Friday, January 28.

At 17:04 Moscow time, Brent was trading at $90.01 per barrel (+2.09%). The last time the price of this brand of oil exceeded $90 per barrel was in October 2014.

The cost of a futures contract for WTI crude oil for March 2022 delivery rose to $88.23 per barrel as of 17:27 Moscow time.

On January 26, contracts for delivery in March for Brent oil traded above $90 per barrel. On January 18, the price of Brent oil exceeded $87 per barrel on the London Stock Exchange.

Experts interviewed told Izvestia that the price of a futures contract for Brent crude oil is growing due to the fact that the market is nervous about possible disruptions in oil supplies after the Yemeni Houthis hit Abu Dhabi.

Then, next to the fuel depots of the oil company ADNOC, three fuel tanks exploded. As a result, three people died and six were injured.

Source: IZ

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