Oil Prices Jump To $83.71 A Barrel

Baghdad Oil prices rose again today, Monday, to continue their gains over several weeks, as the energy crisis plaguing the major economies shows no indication of a decline amid supply restrictions from major producers.

Brent crude rose $1.32, or 1.61%, to $83.71 a barrel, after rising about 4% last week. US oil rose $1.59, or 2 percent, to $80.94 a barrel, its highest level since late 2014.

Coal and gas prices have also risen as economies recover, making oil more attractive as a fuel for power generation, pushing crude oil markets higher.

Source: National Iraqi News Agency