Economy

Global oil prices are skyrocketing

Global oil prices skyrocketed on Wednesday morning, March 2, by more than 7%.

April futures prices for US West Texas Intermediate crude rose 7.25% to 110.88 a barrel for the first time since 2013.

The price of Brent crude futures rose for the first time since July 2, 2014. For the month of May, it increased by 7.14% to $112.53 a barrel.

The price of Brent crude for delivery in May 2022 on the ICE London Stock Exchange also increased by 4.01% to $ 109.18 per barrel.

 

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