Oil Prices Hit Four-Year Highs
Oil prices rose to their highest levels since 2014 this week. U.S. crude, measured by the price of West Texas Intermediate (WTI), climbed to $75 per barrel. Brent crude, the international measure of oil prices, is now at more than $84 per barrel. There are several reasons for the increase in energy prices in 2018, both from the supply and the demand side. At a broad level, the return to slightly higher oil prices is a relatively good thing for the financial markets, both in the U.S. and globally.