Oil prices hit over $50 per barrel




Nigeria’s Bonny Light and other crude oil grades have risen from $49 per barrel to over $50 per barrel in the global market following a significant drop in the inventories of United States yesterday.

A survey of the oil markets showed that the price of Brent, usually used to benchmark other crude oil grades rose from $46 to $50.42 per barrel.

It also showed that the prices of WTI and the Organisation of Petroleum Exporting Countries, OPEC, Basket stood at $47.54 and $46.87 per barrel respectively.

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Source: Today.ng

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