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Brent Crude Oil Price Surpasses $65 Per Barrel

© Sputnik / Boris Babanov / Go to the mediabankThe prices of West Texas Intermediate (WTI), the US oil benchmark, and Brent crude, the global oil benchmark, hit record lows not seen since April 2009 on Tuesday.
The prices of West Texas Intermediate (WTI), the US oil benchmark, and Brent crude, the global oil benchmark, hit record lows not seen since April 2009 on Tuesday. - Sputnik International
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The price of Brent crude oil, the international benchmark, has reached a new high by surpassing $65 per barrel, market indices showed Tuesday.

MOSCOW (Sputnik) — As of 02:25 GMT, the January Brent futures for North Sea crude oil, the benchmark for the global oil price, traded at $65,24 per barrel, rising by 0.52 percent.

Khaled al Otaiby, an official of the Saudi oil company Aramco watches progress at a rig at the al-Howta oil field. - Sputnik International
How Oil Price Spike Over Saudi 'Corruption Purge' May Increase US Output
Brent crude first jumped to $64.27 on November 6 after a number of former and current Saudi officials, including 11 princes and four incumbent ministers, were detained by the authorities as part of an anti-corruption operation launched by the government, resulting in an increase of oil prices to their highest levels in over two years. Experts predicted that if the uncertainty in Saudi Arabia further escalated, oil prices could rise toward $70 per barrel, but by November 8 Brent Crude had already fallen to $63.97.

The price of crude oil has started rising again amid the reports that the Forties Pipeline System, the UK largest oil pipeline, could be shut down for weeks for unscheduled repairs.

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