Crude trades at seven-month high

Brent crude – the global benchmark for oil – moved closer to the $50-a-barrel mark for the first time since November, boosted by supply disruptions due to militant attacks in Nigeria’s Delta region

20 30 40 50

Oct Nov Dec Jan Feb Mar Apr May 

Brent crude ($ per barrel)

Oct 8: Oil rises to $53:05

Dec 10: Oil falls below $40 due to growing supply glut

Jan 20: $27:88. IEA warns market could “drown in oversupply”

Feb 16: $32:18. Saudi Arabia, Russia, Qatar and Venezuela reach tentative deal to freeze production at January levels

Feb 23: $33:27. Saudi Arabia’s  oil minister says production cuts will not happen

Apr 18: $42:91. Saudi-Iran tensions scupper deal to freeze output

May 16: $49:47

Sources: Financial Times, Investing.com