Oil prices hits highest levels in years amid Covid-19 recovery

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Qulity Score:
  • News: 16%
  • Publisher: 63%

Brent crude oil futures rise to 2018 levels as US West Texas Intermediate crude futures revisit 2014 peaks

South Africa Latest News, South Africa Headlines

Singapore — Oil prices hit their highest in years on Monday as demand continues its recovery from the Covid-19 pandemic, boosted by more custom from power generators turning away from expensive gas and coal to fuel oil and diesel.

US West Texas Intermediate crude futures climbed $1.12, or 1.4%, to $83.40 a barrel, highest since October 2014.“Easing restrictions around the world are likely to help the recovery in fuel consumption,” analysts from ANZ bank said in a note on Monday. They added that gas-to-oil switching for power generation alone could boost demand by as much as 450,000 barrels per day in the fourth quarter.

The US oil and gas rig count, an early indicator of future output, rose 10 to 543 in the week to October 15, its highest since April 2020, energy services firm Baker Hughes Co said last week.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Investing today will save you the stress of financial crisis tomorrow.. Live the kind of life you want today by investing and trading Bitcoin. Trade with a professional trader and start making good profits today. Lisahawthorrne for transparency and trust.

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

COVID-19 WRAP | SA records 619 new Covid-19 cases in 24 hoursCovid-19 live updates.
Source: TimesLIVE - 🏆 28. / 59 Read more »

Covid-19: South Africa hits 20 million vaccination milestoneThere are 10.7 million fully vaccinated people in the country.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

COVID-19 LIVE UPDATES | SA has administered over 20-million vaccinesCovid-19 live updates.
Source: TimesLIVE - 🏆 28. / 59 Read more »

Covid-19 vaccine roll-out to 12-17 age group raises intriguing issuesOpening vaccinations to this age group is a big step forward in the war to get everyone vaccinated and the ongoing battle against anti-vaxxers. shantelll_142 has all it takes to turn things well for you with her company platform and strategy on Bitcoin trade and other Crypto currencies..invest with her shantelll_142 and you will have a good return of your investment 'in the war to get everyone vaccinated and the ongoing battle against anti-vaxxers' WHO creates Wars?
Source: IOL - 🏆 46. / 51 Read more »

COVID-19 | WATCH | Children don't need parents' consent - expertChildren do not need a parent's consent to get vaccinated against COVID-19, according to Acting Health Director-General, Nicholas Crisp. They are doing this because uptake is not good and they have excess Vax that us about to expire. Mac do not appear to be in agreement Utya I Drugs uExpect Governments are taking parents responsibilities
Source: eNCA - 🏆 49. / 51 Read more »

Operation Hunger addresses nutritional challenges amid climate, Covid-19, economic factors | CitypressThe underlying causes of nutrition inequity are numerous, but the most notable of them are is the way in which people’s everyday social, psychological, behavioural and material lives are impacted by the environment in which they find themselves. I was impressed by the professionalism of Mr Dereck0111 From the moment of my first free consultation,to the moment I got my profit,he's trustworthy,reliable and understanding... Dereck0111
Source: City_Press - 🏆 7. / 72 Read more »