Oil Prices Rise To $48 Per Barrel

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Crude oil prices have risen to $48.77 per barrel, showing $3.23 in excess of Nigeria’s 2017 budget reference of $44.50 per barrel.

The price of Brent which is usually used to benchmark the price of other oil grades rose from $47 to $48.77 per barrel.

The price of WTI also rose from $45.50 to $46.04 per barrel.

The price of the Organisation of Petroleum Exporting Countries, OPEC, basket rose from $44.48 to $$45.36 per barrel.

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