FY24 Review | Brent rises nearly 9% in last 12 months on OPEC cuts, Middle-East tensions; Will oil hit $100 in FY25?
Among other reasons, Ukraine’s drone attack on Russian refineries and OPEC extending its supply cuts till mid-2024 have also dictated the movement of crude oil prices. Overall, the Brent crude’s highest mark achieved in FY24 was $97.69 per barrel in September 2023, after the Israel-Hamas war breakout. The lowest was $71.28 per barrel in May … Read more