AgenciesOct. 8 — Oil prices jacked up Friday by than 4% on week following global energy crunch has pushed prices to their highest since 2014.Earlier in week, Brent hit a three-year high of $83.47.OPEC and allied producers said they would stay the course of gradually bringing back production cuts with global energy demand growing.Meanwhile U.S government said it was monitoring energy markets, which did not announce immediate plans for actions to lower prices. U.S. benchmark West Texas Intermediate crude touched a high above $80 a barrel briefly.“Oil prices are surging as U.S. Department of Energy has backed off from plans that could curb prices by releasing SPR crude oil and banning U.S. crude exports,” said Phil Flynn, senior anal...
October 9, 2021 at 12:40 am | Economic Affairs