Jan 16, 2025 4:51 a.m.

Oil surge to almost three-year highs on supply tightness

Oil surge to almost three-year highs on supply tightness

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International benchmarks for crude oil rallied on the final trading day of the week, Friday, 24 September 2021 as prolonged production disruptions forced refineries in the US and around the world to draw deeper into inventories. 

Brent gained 84 cents to 1.1% to settle at $78.09/barrel – the highest level since October 2018.

WTI advanced 68 cents, or 0.9% to close at $73.98/barrel.