Rapid Demand Recovery Hints At Even Higher Oil Prices

Brent prices hit a three-year high at $80 a barrel early on Tuesday, driven by recovering demand and a global energy supply crisis pushing up the use of oil and prices of fossil fuel commodities.  The rally to $80—the first time Brent Crude prices have exceeded this mark since September 2018—may have legs for further upsides, analysts say.  Oil demand globally is recovering from the summer Delta variant spike faster than some observers had expected. Soaring prices of natural gas and coal in Europe and Asia are forcing more…