The price of a barrel of US crude hits a record high in about 7 years

Oil prices continued to rise on Friday, with U.S. crude topping $ 80 a barrel for the first time since November 2014.

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According to data from the Bloomberg website, US West Texas Intermediate crude futures contracts rose 2.01% to $ 80.01 a barrel.

Meanwhile, Brent crude futures rose 1.54% to $ 83.21 a barrel.

The rise in oil prices is coming in light of the increased demand for black gold, and one of the reasons that has contributed to the increase in demand is the start of some industries shifting from the use of gas to priced high as petroleum fuel.

Source: RT + Reuters

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