LONDON (Reuters)—Oil prices rose more than $2 on Monday, extending gains as an energy crisis grips major economies amid a pick-up in economic activity and restrained supplies from major producers.
Brent crude was up $2.17, or 2.6%, at $84.56 a barrel by 1136 GMT, its highest since October 2018.
U.S. West Texas Intermediate (WTI) crude rose $2.67, or 3.4%, to $82.02 for its highest since late 2014.
“Oil prices are likely to continue climbing in the short term,” said Commerzbank analyst Carsten Fritsch.
Prices have risen as more vaccinated populations are brought out of coronavirus lockdowns, supporting a revival in economic activity, with Brent advancing for five weeks and U.S. crude for seven.
The pace of economic recovery combined with cold weather have increased the demand for energy, while pressure on governments to accelerate the transition to cleaner energy have slowed investment in oil projects to boost supplies.
ALL BIDEN”S FAULT !!!!!! Closing our Pipe lines & Only approving the RUSSIAN pipe line !!!!
TRUMP’S Gas prices were UNDER $2.00 per gallon !!!!!!! Should have kept TRUMP you dummies !!!!! NOW YOU PAY
O’Biden, like Obama are invested in foreign oil, and are making millions.
So this winter when your trying to keep warm at incredible expense……
JUST THANK
THE LAZY & PROGRESSIVE CLASS who voted for O’Biden and HO Harris
Progressive means Anti-American Communist !!!!!
ALL Democrat’s FAULT for ALL of it !!!!!! Re-instate TRUMP !!!! NOW
F’ing DEMOCRATS.
Groceries are in the too-high-to-buy category now.
Gas? Expensive and climbing.
Democrats. The blame for it lies right on their doorstep.
Now, they are poised to raise your taxes (what they do best) and give the IRS access to your bank account records to make sure you aren’t cheating them.
Please stop. We don’t need your “help”.
Better yet, shoot yourself in the head. Today.
If there was a more efficient plan to destroy this great republic than what the DEMOCRATS are doing, well, they would go right to it.
Buy more ammo.
Good thing is > You Anti-American Democrats have to Pay just like the rest of us (Real Americans ) do !!!!!!
Make all Democrats Buy our gas & groceries !!!!!
Democrats getting their CUT of prices makes the prices go UP !!!!
Make Democrats PAY ALL TAXES !!!!! SOLVED