Oil rises 2% as energy crisis deepens
Prices of oil futures increased more than 2% on Monday, as the energy crisis deepened in Europe, and particularly the United Kingdom.
Meanwhile, the number of oil rigs in the United States increased, as the country’s Department of Energy stated last week that it won’t be tapping into the strategic reserves.
Brent for December deliveries was up by 2.55% at 7:20 am ET to go for $84.48 per barrel. West Texas Intermediate (WTI) for settlements in November jumped 3.25% to sell for $81.95 at the same time.
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