Oil prices skyrockets to the highest of history

Oil prices skyrockets to the highest of history

London: On Jan 18, it was reported that Benchmark oil prices soared to their highest since 2014. It was caused possibly due to the supply disruption after attacks in the Mideast Gulf adding to an already tight supply outlook. After Yemen’s Houthi group attacked the United Arab Emirates, supply concerns have risen escalating bitterness between the Iran-backed group and a Saudi Arabian-led coalition.

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