A continued rise in demand for crude in the face of natural gas and coal shortages is giving oil markets their best performance in over six years.

West Texas Intermediate on the New York Mercantile Exchange rose four of five trading days this week, capping the week with a $1.26 or 1.5 percent increase, closing at $83.76 per barrel, a level not seen since 2014. According to Bloomberg, this is the ninth consecutive weekly rise for crude prices and the longest stretch since 2015. The posted price ended the week at $80.24, according to Plains All American.

Natural gas on the NYMEX also recovered from Monday’s 42-cent slide that pushed prices below $5 per Mcf for the one day. Prices added 16.5 cents Friday to close at $5.28 per Mcf.


“OPEC continues to hold the line on production and that makes the easiest path forward for crude…

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