Due to fears of potential supply disruptions and underinvestment, as well as concerns that crude demand is affected by the Omicron virus, oil prices today have risen to their highest levels in more than 7 years.

At the start of dealings, today crude prices jumped to their highest level since October 2014, and Goldman Sachs raised its forecast for Brent crude during 2022 and 2013, predicting a crude price of $100 in the third quarter of this year.

Brent crude futures rose 44 cents by 0.5 percent to $86.92 a barrel, after earlier recording $87, the highest level since October 30, 2014.

U.S. West Texas Intermediate crude futures jumped 81 cents or 1 percent from Friday's settlement price to $84.62 per barrel, not far from the high in more than two months of the $84.78 they had reached earlier.