Oil Reaches $85 for the First Time Since October U.S. crude futures reached $85 for the first time since October, driven by a mix of OPEC+ production cuts, sustained strong demand, and rising geopolitical tensions. The surge saw West Texas Intermediate (WTI) futures climb by up to 1.8% in New York, with the global Brent benchmark closely approaching $89 a barrel. This price jump is attributed to the effective market tightening by OPEC and its allies, alongside enduring high global consumption levels. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Despite High Inflation Reports, Fed's Barkin Eyes Future Rate Normalization with Caution READ MORE Global Air Travel in Turmoil as CrowdStrike Outage Continues READ MORE Home Price Growth Decelerates as High Rates Dampen Buyer Enthusiasm READ MORE China Gold Reserves Grow for 18th Straight Month READ MORE Cosmic Flash Leaves Scientists Puzzled Over Origin of Gold and Platinum READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment