Oil prices reach highest point in seven years

High oil prices are a victory for Saudi Arabia, but a blow to the United States and China.
NICOLAS TUCAT/AFP via Getty Images
A picture taken on Jan. 18, 2022, shows a truck entering a petrol station in Marseille, southern France, as oil prices hit their highest since 2014. - NICOLAS TUCAT/AFP via Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

Oil prices reached their highest point since 2014 today.

The price of Brent crude opened above $87 a barrel. Brent crude is widely considered the benchmark for global oil prices.

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