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France 24

Business

Oil prices jump to highest level since 2014 on supply concerns

FRANCE 24 Stephen Carroll United Arab Emirates

BUSINESS DAILY © FRANCE 24

Oil prices have jumped to their highest level since 2014 after the drone attack on fuel tankers in the United Arab Emirates and amid broader concerns about supply in the market. In early trading on Tuesday, the international benchmark Brent Crude rose above $88 per barrel. Oil producers are sticking to their planned supply increases, despite surging demand. The rising cost of fuel is set to hit consumers, who are already facing the highest inflation rate in decades. FRANCE 24's Business Editor Stephen Carroll tells us more.

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