Oil Price Hits $90 Per Barrel For First Time Since 2014

Oil Price Hits $90 Per Barrel For First Time Since 2014.

For the first time since 2014, oil prices rose to $90 per barrel on Wednesday.

This comes as tensions between Russia and Ukraine rise.

Oil prices have continued to grow in recent months, owing to increased demand for the commodity throughout the world.

READ ALSO:  Delta APC Leaders Pass Vote of Confidence on Emerhor

Brent, the global oil benchmark, surpassed the latest milestone, while US West Texas Intermediate crude futures rose 1.96 percent to $87.27 per barrel.

The current price is $28 more than the Nigerian government’s budget of $62 per barrel for 2022.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

one × 4 =