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Rising Fuel Oil Prices in the Global Market

by Krystal

Fuel oil prices have seen a slight increase in the global market following a 7 percent drop last week, according to a report by Reuters on Monday, October 21.

The report noted that Brent crude oil prices rose by 0.11 percent, or 8 cents, reaching $73.14 per barrel. Meanwhile, West Texas Intermediate (WTI) crude oil prices increased by 0.14 percent, or 10 cents, to $69.32 per barrel.

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This rise in global oil prices comes as China’s economic growth slows down and the threat of conflict in the Middle East diminishes, as reported by Reuters.

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