Strong demand for oil is driving prices steadily higher. And if you think it’s bad here in the U.S., imagine living in Europe.
Brent crude (which is the European crude oil benchmark) is trading for more than $80 per barrel. That’s about $8.00 per barrel higher than the price for oil here in the U.S.
The growing global economy is creating plenty of demand for oil. And of course, when demand is high, prices naturally rise. Continue reading