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Frequently Asked Questions

Why did oil prices rise to a seven-year high?

Oil prices rose to a seven-year high Tuesday amid ongoing supply concerns and escalating tensions in the Middle East, but Exxon Mobil CEO Darren Woods is confident they will trend lower.

What is the price of oil per barrel?

Brent crude oil futures edged higher by 1 cent to $74.40 a barrel. U.S. West Texas Intermediate (WTI) crude futures gained 1 cent to $71.30. An offshore rig stands against gloomy skies.

Should energy traders bet on OPEC+?

“Energy traders don’t want to bet against OPEC+ but all the short-term risks from omicron to Fed tightening is proving to be very disruptive to the short-term outlook for oil prices,” said Edward Moya, senior analyst at OANDA.

Why is stock market so volatile right now?

“As you get supply and demand tighter, events that happen around the world. lead to a lot more volatility because there’s less of a buffer, and I think we’re going to see that for some time now,” he said Tuesday on CNBC’s “Squawk Box.


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