The price of oil is back to pre-pandemic levels
Posted on AllSides February 9th, 2021
From The Center
The last time the price of oil was this high, the US was about to confirm its first Covid-19 case.
The US benchmark for crude oil, West Texas Intermediate (WTI), reached nearly $58 per barrel on Feb. 8, the first time it has hit pre-pandemic levels since the collapse of global oil demand sent prices plummeting to record lows in last April and May of 2020. During the second half of 2020, WTI prices had stagnated around $40, below what most US producers needed to turn a profit. But it...
Some content from this outlet may be limited or behind a paywall.
AllSides Media Bias Rating: Center
