Oil prices rise 70

A significant increase in oil prices!

If oil prices rise by 70%, that means the current price of oil has increased by 70% compared to its previous price.

To calculate the new price, you can multiply the previous price by 1.7 (which is 100% + 70%).

For example, if the previous price of oil was $50 per barrel, the new price would be:

$50 x 1.7 = $85 per barrel

This means that the price of oil has increased by $35 per barrel, or 70% of the original price.

This kind of increase can have significant impacts on the global economy, particularly on industries that rely heavily on oil, such as transportation, manufacturing, and energy production.