Oil Price Surges Above $85 Per Barrel

The international oil benchmark, Brent crude, climbed above $84 per barrel on Wednesday on tight supply and easing concerns about the potential impact of Omicron coronavirus variant on demand.

Brent, against which Nigeria’s crude oil is priced, rose by $1.42 to $85.14 per barrel on Wednesday.

The Senior Market Analyst, Asia Pacific at OANDA, Jeffrey Halley, said in a note that Bent could move towards $100 per barrel this quarter.


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