The price of Brent crude oil, the world benchmark, has increased in 2022, partly as a result of Russias full-scale invasion of Ukraine. In addition, a strong U.S. dollar means that countries that use currencies other than the U.S. dollar pay more as crude oil prices increase. Since June 1, 2021, the Brent crude oil price has increased by 59% in U.S. dollars and by 86% in euros.
Stronger U.S. dollar contributes to higher crude oil prices in international markets
Skip back to main navigation
