WTI crude prices hit $81 on booming global oil demand

World Oil | Oct 11, 2021 at 2:00 AM
  • Crude topped $81 a barrel as the global power crunch boosts demand for oil ahead of winter.
  • The oil market’s structure has also rocketed in recent days, a sign of the growing bullish sentiment among traders.
  • The gas-to-oil switch is also evident in increasing profits from diesel and fuel oil production for refiners in Europe.