Brent Crude Price

Brent crude rose $1.37, or 1.6%, to $89.57 at 1319 GMT after reaching $89.60, the highest since October 2014. U.S. West Texas Intermediate (WTI) crude was up $1.13, or 1.3%, to $86.73.

The global benchmark rose to $89.17 on Wednesday, its highest level since October 2014; the benchmark is up 13% on the year so far.

Most Asian equities rallied Tuesday and Brent crude hit a more than seven-year high as optimism over the global recovery returned to trading floors, though concerns about the end of long-running central bank support tempered sentiment.

Brent ended the year up 50.5 per cent, its biggest gain since 2016, while WTI posted a 55.5 per cent gain, the strongest performance for the benchmark contract since 2009

Oil prices have been underpinned by Ecuador, Libya and Nigeria declaring forces majeures this month on part of their oil production because of maintenance issues and oilfield shutdowns.

Oil prices settled higher on Tuesday, with Brent crude ending the session near $80 a barrel despite the rapid spread of the Omicron coronavirus variant.

Brent crude was trading near $80 a barrel despite the rapid spread of the Omicron coronavirus variant, mainly supported by supply outages and expectations that U.S. inventories fell last week.

Brent crude settled up $2.46, or 3.4%, at $73.98 a barrel, and U.S. West Texas Intermediate (WTI) crude rose $2.51, or 3.7%, to $71.12 a barrel.

Brent crude prices have also priced in an additional hit to global oil demand of 1.5 million barrels per day for the next three months from the impact of COVID-19 in Europe and China, Goldman said.

Oil fell with global equities markets on fears the variant, could dampen economic growth and fuel demand.

U.S. West Texas Intermediate (WTI) crude was down $10.10, or 12.9 per cent, at $68.29 a barrel, after Thursday's Thanksgiving holiday in the United States.

Brent crude rose $2.20 to settle at $82.74 per barrel, while U.S. West Texas Intermediate crude (WTI) gained $2.46 to $81.27.

U.S. crude stocks rose by 4.3 million barrels last week, the U.S. Energy Department said on Wednesday, more than double the 1.9 million-barrel gain forecast by analysts.

Crude oil inventories rose by 4.3 million barrels last week, according to the U.S. Energy Department, more than the expected 1.9 million-barrel gain.

Oil futures have been trading near multi-year highs due to a global energy supply crunch, with the Brent crude benchmark at $84.30 a barrel on Wednesday.

Brent crude rose $1.37, or 1.6%, to $89.57 at 1319 GMT after reaching $89.60, the highest since October 2014. U.S. West Texas Intermediate (WTI) crude was up $1.13, or 1.3%, to $86.73.

The global benchmark rose to $89.17 on Wednesday, its highest level since October 2014; the benchmark is up 13% on the year so far.

Most Asian equities rallied Tuesday and Brent crude hit a more than seven-year high as optimism over the global recovery returned to trading floors, though concerns about the end of long-running central bank support tempered sentiment.

Brent ended the year up 50.5 per cent, its biggest gain since 2016, while WTI posted a 55.5 per cent gain, the strongest performance for the benchmark contract since 2009

Oil prices have been underpinned by Ecuador, Libya and Nigeria declaring forces majeures this month on part of their oil production because of maintenance issues and oilfield shutdowns.

Oil prices settled higher on Tuesday, with Brent crude ending the session near $80 a barrel despite the rapid spread of the Omicron coronavirus variant.

Brent crude was trading near $80 a barrel despite the rapid spread of the Omicron coronavirus variant, mainly supported by supply outages and expectations that U.S. inventories fell last week.

Brent crude settled up $2.46, or 3.4%, at $73.98 a barrel, and U.S. West Texas Intermediate (WTI) crude rose $2.51, or 3.7%, to $71.12 a barrel.

Brent crude prices have also priced in an additional hit to global oil demand of 1.5 million barrels per day for the next three months from the impact of COVID-19 in Europe and China, Goldman said.

Oil fell with global equities markets on fears the variant, could dampen economic growth and fuel demand.

U.S. West Texas Intermediate (WTI) crude was down $10.10, or 12.9 per cent, at $68.29 a barrel, after Thursday's Thanksgiving holiday in the United States.

Brent crude rose $2.20 to settle at $82.74 per barrel, while U.S. West Texas Intermediate crude (WTI) gained $2.46 to $81.27.

U.S. crude stocks rose by 4.3 million barrels last week, the U.S. Energy Department said on Wednesday, more than double the 1.9 million-barrel gain forecast by analysts.

Crude oil inventories rose by 4.3 million barrels last week, according to the U.S. Energy Department, more than the expected 1.9 million-barrel gain.

Oil futures have been trading near multi-year highs due to a global energy supply crunch, with the Brent crude benchmark at $84.30 a barrel on Wednesday.