US oil prices shoot up again

The prices of US crude oil hit another high. Earlier this week, the cost per barrel rose to 78 dollars. But at one point on Friday, it was higher than 80 dollars. Prices haven't been at that level since 2014.

Industries have been switching over from gas to oil, because gas prices have been getting higher. Now, as economies around the world try to recover from the pandemic, they are running into shortages of both.

OPEC members helped stoke concerns when they agreed not to pump more oil, despite rising demand.
Resources will be further strained as the northern hemisphere heads into winter.