Business Standard

World's most-important oil price tops $100, signals more to come

It also shows that the rally in futures prices - they passed $96 at one point on Wednesday - is in part being driven by what's happening in the real world

Higher crude oil prices will also translate into higher input prices for consumer goods companies.

Forget the futures market, the world’s most important oil price just smashed through $100 a barrel with every sign it is going to push higher. Dated Brent, the price of cargoes bought and sold in the North Sea, reached $100.8 a barrel on Wednesday for the first time since 2014, according to S&P Global Platts, the company that publishes the marker. Price spreads in the futures market are pointing to one the tightest markets ever.

The surge through $100 a barrel for Dated matters because the daily price assessment is at the centre of a web of complex oil derivatives and

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First Published: Feb 17 2022 | 10:31 PM IST

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