Jan 27, 2022 - Energy & Environment

Oil prices hit a milestone

Data: FactSet; Chart: Axios Visuals

Brent crude oil futures topped $90 per barrel Wednesday for the first time since 2014 as growing demand tightens markets and tensions over Ukraine boil.

What they're saying: "Energy traders are anticipating higher energy prices on potential geopolitical risks and as OPEC+ will stick to their plan to deliver another modest increase to production at next week’s meeting," Oanda analyst Edward Moya said in a note.

  • Prices dipped slightly yesterday afternoon but are back well above $90 this morning.
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