The price of oil in the world market reached its highest level since 2008 as brent crude has risen above $129 a barrel.
According to the details, the price of oil in the world market is at the highest level in the last 14 years. Brent oil traded up $129 a barrel, while WTI crude traded above $125 a barrel.
On November 1, 2021, the price of Brent crude oil was $68 per barrel, while on December 1 of the same year, Brent crude oil reached $77 per barrel.
The price of Brent crude oil went up to 89 89 per barrel on January 1, 2022, and $97 per barrel on February 1. Due to the Russia-Ukraine conflict, the price of crude oil in the world market has been steadily rising. Five days ago, oil prices hit an 11-year high.
Read more: Brent crude oil crosses $110 per barrel
At the behest of President Vladimir Putin, the Russian military invaded Ukraine, pushing the price of crude oil at 110 110 and Brent oil at $111 a barrel.
World oil prices rose nearly $2 a barrel on Friday. The price of Brent crude oil rose by $1.99.
