[Grammar] with oil prices reaching a peak of approximately $130 per barrel

yi-ing

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Matthew Wai

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A dramatic increase in both commodity prices was seen from 2007 to 2008, during which oil prices reached a peak of approximately $130 per barrel, and the food price index rose to 220 points.

I think 'with' refers to the situation that existed from 2007 to 2008 according to the Longman definition.
 

Tdol

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There was an increase over the period. With introduces the peak.
 

TheParser

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Hello,

I have found some information that may interest you.

One book that is used by many teachers and students says this: "With" can introduce the reasons for a situation (rather like "because there is/was").

Its examples:

1. With this work to do, I won't have time to go out.
2. With three people away ill, we'll have to close the shop.
3. With friends like you, who needs enemies?


Source: Michael Swan, Practical English Usage (1995 edition), entry #602.4 on page 630.
 
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