3 reasons high oil prices are here to stay

Author: External Author | | Categories: Oil Well Optimization , Oilfield Services , Oilfield Swabbing , Wireline Company

Oil prices have roared back to about where they were in the early days of the Ukraine war, and there's no prospect of significant relief for drivers and businesses any time soon.

The price of Brent crude, the global benchmark, shot up past US$124 a barrel earlier this week — its highest level since early March — after the European Union announced it would slash 90% of its Russian oil imports by the end of this year.

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Original Article Source Credits:   CTV News , https://www.ctvnews.ca/

Article Written By:  Anna Cooban

Original Article Posted on:   

Link to Original Article:  https://www.ctvnews.ca/business/3-reasons-high-oil-prices-are-here-to-stay-1.5931547