The rise in oil prices and the price of a barrel exceeds $ 82

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Oil prices rose on Friday, heading for an increase of 4.5 percent during the week, as the price of Brent crude jumped to $ 82.88 a barrel.According to “Reuters”, the rise in prices came as a result of indications that some industries are starting to shift from using high-priced gas as fuel to oil.

The agency said that Brent crude futures contracts were 93 cents, or 1.1 percent, to $ 82.88 a barrel this morning.
US West Texas Intermediate crude futures also rose $1.02, or 1.3 percent, to $79.32 a barrel.Analysts said that the US Department of Energy’s statement that it did not intend to use the strategic oil reserves to calm the rise in oil prices, also led to the rise in prices.

On the other hand, Reuters quoted a US Department of Energy source as saying that this statement is inaccurate, indicating that all solutions are always on the table.

And “OPEC” expects that the golden age of oil will continue for years to come, in light of the recovery of economies from the epidemic, noting that global demand may stabilize after 2035.

Source: Sputnik





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