Column: Rising oil price will draw response from consumers – Reuters

oil reuters consumers column rising
Gulf
  • Date: 01-Jul-2021
  • Source: Reuters
  • Sector: Oil & Gas
  • Country: Gulf
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Column: Rising oil price will draw response from consumers – Reuters

LONDON, June 30 (Reuters) - Oil prices have risen above the long-term average, once adjusted for inflation, and are likely to encounter increasing resistance from consumers if they continue to climb.

Front-month Brent futures are trading around $75 per barrel compared with an inflation-adjusted median of just over $70 since the start of the century.

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