Oil Prices Soaring: Brace for Higher Energy Costs

0:00Oil prices are staying sky high through the rest of this year thanks to the war between Iran and the United States, hitting gasoline, diesel, and jet. Fuel hard. North American crude has jumped more than 50 percent since late February when the Middle East conflict kicked off. A fresh Deloitte Canada report predicts an average of $85 USD per barrel this year up from $67 last year. Right now, West Texas Intermediate is trading over $116 USD per barrel and everyday prices feel super volatile. Analyst Andrew Botterall says, expects some relief in the second half of the year, but for now, brace for pressure on all our energy needs. This has been Canada News Today powered by AI.