Brent Appreciates in Price

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Brent, the global benchmark for crude, appreciated in price on Monday.

This comes as the Organization of Petroleum Exporting Countries and its allies consider an oil output cut of more than a million barrels per day when they meet on October 5, 2022.

Industry figures seen showed that the cost of Brent moved up by 3.7 per cent or $3.15 to close at $88.3/barrel as at 6.03pm Nigerian time.

Another oil grade, the WTI, also increased in price on Monday. It gained $3.36 or 4.23 per cent to close at $82.83/barrel around the same time.

Written by: Helen Obih

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