Brent crude oil above $57, nearing the highest close since 2015
Brent crude oil, the world’s international oil benchmark, jumped towards $58 a barrel on Monday – its highest level since January – and was on course to close at the highest level since 2015, The Financial Times reported.
According to the source, the price for November Futures WTI oil increased by 0,48%, totalling to $52,09 per barrel on the New York Mercantile Exchange (NYMEX).
The price for December Futures Brent oil rose by 0,24%, amounting to $57,89 per barrel on the London ICE Futures Exchange. To note, one barrel equals 158,988 liters.
According to the source, the prices were given an additional boost on Monday by threats from Turkey to Iraqi Kurdistan, which is holding an independence referendum.
President Tayyip Erdogan warned Erbil that Turkey controls the pipelines through which the autonomous region’s oil reaches international markets.