Friday, 29 March, 2024, 1:26 AM
Advance Search
Home

Brent oil hits highest level in more than 7 yrs

Published : Tuesday, 18 January, 2022 at 10:51 AM  Count : 748

Brent oil hits highest level in more than 7 yrs

Brent oil hits highest level in more than 7 yrs



Brent crude prices hit their highest level in more than seven years on Tuesday on growing demand optimism, easing concerns about the Omicron Covid variant and geopolitical tensions.

The contract hit $86.84 in Asian trade, a level not seen since late October 2014, reports AFP.
Brent and West Texas Intermediate have climbed more than 10 percent so far this year as investors become increasingly confident that the demand will increase as the world slowly returns to normal and economies reopen.

The latest bump comes after Yemen's Huthi rebels claimed attacks in Abu Dhabi that triggered a fuel tank blast killing three people Monday, adding that civilians and foreign firms in the United Arab Emirates should avoid "vital installations".

The news fuelled concerns about supplies from the crude-rich region.

TF






Latest News
Most Read News
Editor : Iqbal Sobhan Chowdhury
Published by the Editor on behalf of the Observer Ltd. from Globe Printers, 24/A, New Eskaton Road, Ramna, Dhaka.
Editorial, News and Commercial Offices : Aziz Bhaban (2nd floor), 93, Motijheel C/A, Dhaka-1000.
Phone: PABX- 41053001-06; Online: 41053014; Advertisement: 41053012.
E-mail: info©dailyobserverbd.com, news©dailyobserverbd.com, advertisement©dailyobserverbd.com, For Online Edition: mailobserverbd©gmail.com
  [ABOUT US]     [CONTACT US]   [AD RATE]   Developed & Maintenance by i2soft