Brent Crude Beats 3-year High, Tops $70/barrel

[vc_row][vc_column][vc_column_text]Albeit briefly, Brent crude beat its’ 3-year high, topping $70/barrel for the first time since December 2014. The ticker finished the day around $69.20/barrel, but psychologically the $70 mark is an important level.

Stronger-than-expected demand, as well as economic growth worldwide supported the oil price growth. Tickers have been rallying since June, with approximately 15 percent growth in December 2017 alone (CNBC).

According to CNBC, many experts believe prices may have peaked, and may not grow much further, however passing the $70 threshold is still a milestone.

Stay tuned to The Chemical Company on social media, thechemco.com & our regular email newsletters for updated info on the oil markets, and chemical industry as a whole.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]brent crude 70 wide - The Chemical Company[/vc_column_text][/vc_column][/vc_row]

Share:

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on email
Email

Related Posts

Russian Sanctions Cause Market Uncertainty

Worldwide industries are facing unprecedented times as uncertainty rises around the longevity of Russian sanctions. Businesses are drawing up long, medium, and short-term plans for

Unprecedented Economic Trends for March

March 2022’s economic trends are unlike anything America has witnessed before. The number of unemployed individuals rose to 227,000, while employers are desperate to fill