Both Brent and WTI benchmarks were firmly above the $70 per barrel mark and might soon breach the $80 mark. Oil prices continue to rise for the fifth consecutive week. The Brent crude price closed the week by rising to $76.18 per barrel, while West Texas Intermediate (WTI) rose to $74.05 per barrel. Brent and WTI spreads are narrowing, but US output remains unchanged and,