Oil Prices Surge Above $85 per Barrel, Reaching Highest Level Since November 2022

In a significant development, oil prices continued to climb during afternoon trading on Friday, surpassing $85 per barrel for the first time since November 17, 2022.

Rise in US Oil Prices

By 4:07 pm Moscow time, the price of US West Texas Intermediate oil futures witnessed a notable increase of 1.7%, reaching $85.05 per barrel.

Increase in Brent Crude Futures

Simultaneously, global futures contracts for Brent crude experienced a rise of 1.42%, reaching $88.06 per barrel, according to trading data.

Source: News