World crude oil prices on the rise

World crude oil prices on the rise

World crude oil prices on the rise

Written by Lahiru Fernando

09 Oct, 2015 | 9:56 pm

The price of crude oil in the world market is once again on the rise.

Today alone the price of a barrel of crude oil went up by one dollar and seventy cents, which is a three percent increase.

At the beginning of this month, a barrel of crude oil stood between 45 – 47 US dollars. In the past week the price of a barrel of crude oil rose by over five dollars which is an increase of approximately 12 percent.

The price of a barrel of crude oil stood between 50 and 53 in the world market today. The depreciation of the US dollar and the crisis in Syria have been listed as reasons behind the increase in price, by the international media.

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