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Jan 4, 2022 · Crude oil prices increased in 2021 as increasing COVID-19 vaccination rates, loosening pandemic-related restrictions, and a growing economy resulted in global petroleum demand rising faster than petroleum supply. The spot price of Brent crude oil, a global benchmark, started the year at $50 per barrel (b) and increased to a high of $86/b in ...
Sep 28, 2023 · Brent crude oil prices have risen more than 30% in the past three months and are now trading near $93 per barrel, levels not seen since November 2022. Gasoline prices have followed suit and...
Nov 13, 2021 · Crude oil prices have climbed more than 60% this year amid strong demand and snarled supply chains, prompting President Joe Biden to pressure Saudi Arabia and other exporters to ramp up oil...
Sep 25, 2023 · Costlier oil feeds through to higher prices for gasoline and diesel, especially in the U.S., where roughly half the pump price reflects the cost of crude — the rest is marketing, taxes and other costs.
Jan 5, 2022 · A faster increase in global oil demand than growth in supply led to oil prices jumping last year, with the average Brent Crude price at $71 per barrel—the highest of the past three years.
Nov 9, 2021 · Oil prices have soared to seven-year highs as the global economy has recovered, and driven the U.S. retail gasoline cost to $3.42 a gallon, the highest in seven years.
Jul 7, 2023 · EIA forecasts crude oil prices will increase through 2024 as demand rises above supply
