Oil price highest in four years


Published: 2018-09-26 14:16

Last Updated: 2018-09-28 11:31

Oil price highest in four years
Oil price highest in four years
Roya News Source

Oil prices continued to rise in Wednesday's trading, September 26, 2018, with Brent crude nearing its highest level in four years.

Brent crude is at its highest level since November 2014 at $82.55 a barrel as the United States is imposing sanctions to stop oil exports from Iran, OPEC's third largest producer, since November 4, 2018. The expected loss of Iranian supplies is the key factor in the recent surge in prices.

Brent is heading for its fifth straight quarterly gain, the longest climb since 2007, hitting a record high of $147.50 a barrel.