Brent crude reaches $110 a barrel, highest since May
Brent crude, the international oil benchmark, hit $110 a barrel on Friday as investors weighed the effects of the Iran and Ukraine-Russia wars on energy supplies.
Brent crude, the international oil benchmark, reached $110 a barrel during trading on Friday, The Hill reports. It was the first time the price had hit that level since May 20, according to The Hill.
NBC News reported that oil prices rose sharply to nearly $110 a barrel, their highest in weeks. NBC said investors were assessing how the Iran war and the Ukraine-Russia war affect global energy.
The Hill ties the move to continuing disruption from the U.S.-Iran conflict and the war between Russia and Ukraine.
Reported by
- NBC NewsOil prices jump sharply, to nearly $110 per barrelFri, Oct 16, 1:55 PM EDT
- The HillOil hits $110 per barrel for first time since MayFri, Oct 16, 4:48 PM EDT
- The HillOil reaches $110 per barrelFri, Oct 16, 5:44 PM EDT
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