#GCC and #MiddleEast Finance News: Brent Oil Jumps to Highest Since 2014 as Physical Market Booms

Tuesday, 18 January 2022

PRICES
Brent for March settlement was 92 cents higher at $87.40 a barrel on the ICE Futures Europe exchange at 12:06 p.m. London time. It earlier reached the highest level since October 2014. The prompt timespread was 71 cents a barrel in backwardation, compared with 74 cents a week earlier. West Texas Intermediate for February delivery gained $1.23 from Friday’s close to $85.05 on the New York Mercantile Exchange. There was no settlement Monday due to the Martin Luther King Jr. Day holiday in the U.S. and transactions will be booked Tuesday.

PRICES

Brent for March settlement was 92 cents higher at $87.40 a barrel on the ICE Futures Europe exchange at 12:06 p.m. London time. It earlier reached the highest level since October 2014.
The prompt timespread was 71 cents a barrel in backwardation, compared with 74 cents a week earlier.
West Texas Intermediate for February delivery gained $1.23 from Friday’s close to $85.05 on the New York Mercantile Exchange.
- There was no settlement Monday due to the Martin Luther King Jr. Day holiday in the U.S. and transactions will be booked Tuesday.