Oil price rises to 114 dollars for barrel

Brent, the crude against which Nigeria’s oil is priced, moved up in price to $114/barrel, rising by $3.72 or 3.37 per cent.
The Secretary-General of the Organization of Petroleum Exporting Countries, OPEC, Sanusi Barkindo, disclosed this at the 61st meeting of the Joint Technical Committee of the organization.
Its rise in price followed the ongoing war between Russia and Ukraine, as OPEC, raised the alarm.