US oil benchmark hits 2014 peak after OPEC+ talks fail
July 7, 2021
London: The US benchmark oil price WTI briefly spiked to near a seven-year peak on Tuesday after OPEC+ crude producers failed to agree on lifting output, sparking fresh inflationary fears.
West Texas Intermediate (WTI) crude for August delivery leapt to $76.98 per barrel, a level last seen in November 2014, before falling back to below $75 as trading continued.
The price of Europe´s Brent North Sea oil advanced to a November 2018 peak at $77.84.
The OPEC+ group on Monday cancelled a planned meeting that was supposed to overcome an impasse between the United Arab Emirates and other members on how to lift output. No new date has been set.
Oil prices hammered after OPEC+ talks fail - Expat Guide to the United Kingdom
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US oil benchmark hits 2014 peak after OPEC+ talks fail - Expat Guide to the United Kingdom
expatica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from expatica.com Daily Mail and Mail on Sunday newspapers.