Global oil prices top $80 a barrel, highest in 7yrs
Published: 05:12 PM, 9 October 2021
The price of crude oil has risen again in the global market. Now, the price of oil has risen to $80 per barrel – which is the highest in the last seven years.
Oil prices have been rising in the global market since November last year. It started to rise again from June this year. Last June, for the first time since October 2018, the barrel of crude oil rose to $75 in the wake of the Covid-19 outbreak.
The price of crude oil, meanwhile, is currently trading at $80 a barrel after a sharp rise in the past week. Earlier, in November 2014, the price of crude oil touched $80 per barrel. At the moment, besides crude oil, the prices of Brent crude oil and hunting oil are also at their highest in seven years.
In the last one month, the price of crude oil in the global market has increased by about 17 percent. Besides, the price of Brent crude oil has risen by about 15 percent and the price of hunting oil has risen by more than 17 percent.
On the last working day of the last week, the price of crude oil rose by $1.29 to $79.59 per barrel, as a result, the crude oil has increased by 4.89 percent in a week – which was an increase of 16.80 percent in a month.
Meanwhile, the price of Brent crude oil rose by 4.06 percent in a week, $63 to $82.50 per barrel, in the working day of the last week. Besides, the price of hunting oil rose by 3.82 percent to $2.47 per gallon last week.