News // Markets & Stocks
Brent oil price tops $71 a barrel for the 1st time since 2014
25 January 2018 , 16:08Neftegaz.RU510
Brent oil price rose to $71 a barrel on January 25, 2018, a level not seen since late 2014.
According to Reuters, the prices were boosted by the weak dollar and falling crude oil inventories in the United States.
Brent reached a high of $71.05 a barrel on January 25 morning, before slipping to $70.99.
According to the U.S. Energy Information Agency, Benchmark North Sea Brent crude oil spot prices averaged $64 per barrel (b) in December 2017, an almost $2/b increase from the November average and the highest monthly average since November 2014.
Brent crude oil prices averaged $54 a barrel in 2017 and are, according to EIA, forecast to average $60/b in 2018 and $61/b in 2019.
West Texas Intermediate (WTI) crude oil spot prices are forecast to average $4/b less than Brent prices in both 2018 and 2019.
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