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How is the current crude oil price impacting the global economy?

The price of oil is the most important value on international commodity markets since crude oil is the most important commodity. Emerging industrial markets such as China, India and Latin America greatly influence the price of oil, since they require more and more oil to support their economic growth and resulting rise in energy consumption.

What is the current price of crude oil?

Today, the price of Brent crude oil is at $85.72 per barrel, and the price of WTI crude oil is at $80.55 per barrel. See the historical price charts and analysis below.

What is the trend of the crude oil prices?

Brent crude oil opened the year of 2020 amidst an uptrend that began in November 2020 from $38.84 per barrel and continued the rally to $68.72 per barrel until early March 2021. Since the 2022 year opening price of $78.09 per barrel, today’s Brent crude oil price is the same. WTI crude oil is the same as compared to it’s previous trading day.

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