Baghdad Global oil prices witnessed, on Friday, a rise that has not occurred since October 2018, after the price of a barrel of “Brent” exceeded $78.

Trading data indicated that the price of futures contracts for the month of November for “Brent” oil amounted to 78.12 dollars per barrel, an increase of 1.13 percent.

The price of futures contracts for the month of November for West Texas Intermediate oil rose “74.11 dollars a barrel, an increase of 1.11 percent.”

Oil prices have continued to rise since the beginning of September, as disruptions occurred in oil production and supplies as a result of hurricanes, and oil reserves in the United States fell to the lowest level in nearly 3 years, according to what the US Department of Energy announced, last Wednesday.

Source: National Iraqi News Agency