Crude oil prices jump to $85.25 as IEA forecasts more global demand this year

Brent crude oil rose $1.21, or 1.4%, to $85.25 a barrel after touching its highest since early November. Brent had settled above $84 a barrel for the first time since November. Picture: David Creedon

Crude oil prices rose as the International Energy Agency's predicted a tighter market in 2024 and raised its view on oil demand growth this year.

Brent crude oil rose $1.21, or 1.4%, to $85.25 a barrel after touching its highest since early November. Brent had settled above $84 a barrel for the first time since November on Wednesday.