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Brent

Brent oil hits $80 for first time since late 2014

Benchmark oil contract Brent North Sea hit $80 a barrel Thursday for the first time since late 2014, extending a recent run higher fuelled by tight supply concerns.

Shortly before 1000 GMT, Brent North Sea crude for delivery in July jumped to $80.18 a barrel — the highest level since November 2014.

Around 1010 GMT, it pulled back to $79.79, still 51 cents higher than Wednesday.

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Oil prices jump, Brent hits $70

Oil prices jumped on Friday, with Brent crude futures hitting their highest in more than two weeks as U.S. stock prices rose.

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