Oil gets more expensive, and Brent is at $87.32 a barrel

18.01.2022,09:40


January 18, Fineko/abc.az. Prices for oil of standard grades are increasing in Tuesday’s trading, and Brent is traded above $87 a barrel - the highest value since October 2014.

Bloomberg experts believe the situation in the oil market is more complicated than expected due to shortage of supplies while maintaining the high demand.

By 9:25 am, at the London ICE Futures Exchange the March’s Brent crude futures rose by $0.84 (0.97%) up to $87.32 per barrel. Following the trading on 17 January, the price of Brent crude futures for March increased by $0.42 (0.49%) up to $86.48 per barrel.

By 9:25 am, at the New York Mercantile Exchange (NYMEX) the WTI oil futures for February grew in price by $1.13 (1.35%) up to $84.95 per barrel. Following the trading on 17 January, the price of February’s WTI oil futures rose by $0.61 (0.73%) up to $84.43 per barrel.