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West Texas Intermediate crude crude futures crossed $80 a barrel Friday as the benchmark U.S. oil price. This is due to a recovery in demand, but tight supplies.

On Friday, the U.S. crude oil benchmark rose more than 2 percent to reach $80.09 per barrel. Brent crude oil, an international benchmark, rose 1.7% to $83.32 a barrel.

In the face of an increasing energy crisis in Europe and Asia, oil prices are on the rise.

WTI’s seventh consecutive week of positive results is in sight, the longest streak of weekly wins since December 2013. WTI and Brent have increased more than 60% for the year. The price of natural gas fell slightly on Friday to $5.67 for a million British thermal units. The prices have increased more than twice since the start of the year.

Louise Dickson (senior oil market analyst, Rystad Energy) stated Friday that oil prices have risen further in what was another big week. This is because of tight global energy supplies which has reduced fuel availability.

The week started with oil prices rising after OPEC, its partners and others decided to keep to a previous agreement that would allow them to increase production by a small 400,000 barrels per hour in November despite the current fuel shortage. Some speculated that the meeting might decide to add production in order to address rising demand. On Thursday, Crude gained some support after the Department of Energy announced that they have no plans at present to tap the Strategic Petroleum Reserve. This was in response to rising oil prices.

The statement stated that the DOE will continue to monitor the global energy markets and work with its agency partners to decide when and if necessary. All tools from the toolbox are under consideration for protecting the American people. However, at the moment there’s no plan to immediately take these actions.