Oil prices are on the rise and consumers have already started to feel the financial pinch. For many, the oil and gas market has become a roller-coaster ride, up today and down tomorrow. Let’s not forget oil prices plunged into negative territory last year when the price of West Texas Intermediate (WTI) crude dropped by almost 300 per cent, with May 2020 futures trading at negative $37 per barrel.

Prices today are much higher with WTI crude now going for as high as US$82.94, just off its highest rate in seven years.

Speaking with Kalilah Reynolds on the latest edition of Taking Stock, Petrojam’s Managing Director Winston Watson offered an explanation for the price hike.

https://www.jamaicaobserver.com/sunday-finance/taking-stock-surviving-the-global-oil-price-hike_234405?profile=1056