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For the first time in seven years, the price of oil rose above 87 USD per barrel

10:2219.01.2022
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For the first time in seven years, the price of oil rose above 87 USD per barrel

The price of Brent oil, for the first time since October 2014, exceeded 87 USD per barrel. According to the publication rbc.ru, this is evidenced by trading data on the London ICE exchange. The price of the March futures for Brent crude, broke a long-term record and as of 5:37 Moscow time, raw materials are trading at 86,9 USD per barrel. According to Bloomberg analysts, the rise in prices is due to increased geopolitical tensions in the Middle East and easing concerns about the impact of the omicron version of the coronavirus on demand. The publication notes that OPEC experts considered, that the “Omicron” strain will not have a significant impact on the oil market in the near future.

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