Brent Crude Nears $85 As Global Energy Crisis Worsens

Oil prices extended Friday’s rally into Monday, with the U.S. benchmark topping $81 and trading just shy of $82 a barrel as Europe and Asia continue to struggle to secure energy supply for the winter. As of 8:21 a.m. EDT on Monday, the front-month WTI Crude contract traded at $81.75, up by 3.00%. The international benchmark, Brent Crude, was up 2.35% at $84.34. Oil extended the rally from last week, which saw the U.S. benchmark topping the $80 per barrel for the first time since 2014. China’s coal and power crisis worsened over the…