The price of Brent crude oil – the international benchmark – hit $80 per barrel for the first time since late 2014 Thursday morning as the commodity’s rapid price growth in 2018 continues unabated.
Around 5:45 a.m. ET Brent reached a high of $80.18 per barrel, marking the first time since November 2014 it has passed above that mark. By 6:00 a.m. ET, oil is back below $80 to trade at $79.84, a gain of 0.71% on the day.
West Texas Intermediate oil is trading at $72.13, a 0.82% gain.