Business & Economy

Oil prices continue to rise for the first time in years, what is the relationship of the Corona virus?

Today, Monday, oil prices rose to record levels, exceeding the barrier of $ 84 per barrel, recording the highest level since 2014, to continue a series of gains amid restrictions on supplies from major producers and increasing demand for fuel, while economies are trying to recover from the Corona pandemic.
Brent crude rose 1% to $83.20 a barrel, by 02:12 GMT, after rising by about 4% last week.
US crude rose 1.5 percent to $80.50 a barrel, its highest level since late 2014. US crude had gained 4.6 percent as of Friday.
Prices are rising as more residents who have received vaccinations leave the closure procedures, which supports economic activity, as Brent rose for five weeks and US crude increased for seven weeks.

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