Price of a barrel of oil crosses the $100 - Economist

Oil prices rose strongly on the morning of Thursday, February 24, 2022, after the Russian military attack on Ukrainian lands, and the rate of increase exceeded 7% in the barrel.

Oil prices in US crude futures rose by 7.3% to trade at $99.56 a barrel, and in the same context, oil prices in Brent crude futures rose by 7.57%, and the price of a barrel reached $104.17.

Thus, the price of a barrel of oil exceeded the $100 level for the first time since 2014, which represents a great benefit for oil countries that depend entirely on oil and oil revenues in their budget.