Crude oil prices have hit a three year high this month, topping over $84 per barrel, as the global energy crunch deepens.
Oil markets were already tight as demand rebounds from the pandemic and the Opec+ alliance of oil producers withholds millions of barrels of oil per day from the market.
Oil prices could soar to levels not seen since 2014, with West Texas intermediate, the American benchmark price, already at its highest level since late 2014.
Expect more upward movement on oil prices seems to be the consensus. Up, up and away!
