
403
Sorry!!
Error! We're sorry, but the page you were
looking for doesn't exist.
Oil prices rise for third consecutive day amid concerns over US sanctions on Russian oil
(MENAFN) On Monday, oil prices increased for the third day in a row, with brent crude reaching a four-month high above USD81 a barrel. The increase coincides with traders' worries that supply to crucial consumers like China and India may be disrupted by the most recent US sanctions aimed at Russian oil brought out.
Following breaking beyond USD80 per barrel on Friday for the first time since October, international benchmark Brent oil futures rose by approximately 1.5 percent to USD80.6 in morning trading on Monday. Also, US West Texas Intermediate (WTI) crude increased over 1.5 percent to USD77.7, its highest level in four months. In line with data, both benchmarks have rose by over 6 percent since January 8.
In collaboration with the UK, the US stated a "sweeping" new set of penalties against Russia on Friday. Restrictions on 183 vessels engaged in the transportation of Russian crude oil are among the sanctions, which target two large Russian petroleum companies, Gazprom Neft and Surgutneftegaz, in addition to related firms.
Following breaking beyond USD80 per barrel on Friday for the first time since October, international benchmark Brent oil futures rose by approximately 1.5 percent to USD80.6 in morning trading on Monday. Also, US West Texas Intermediate (WTI) crude increased over 1.5 percent to USD77.7, its highest level in four months. In line with data, both benchmarks have rose by over 6 percent since January 8.
In collaboration with the UK, the US stated a "sweeping" new set of penalties against Russia on Friday. Restrictions on 183 vessels engaged in the transportation of Russian crude oil are among the sanctions, which target two large Russian petroleum companies, Gazprom Neft and Surgutneftegaz, in addition to related firms.

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Most popular stories
Market Research

- Manuka Honey Market Report 2024, Industry Growth, Size, Share, Top Compan...
- Modular Kitchen Market 2024, Industry Growth, Share, Size, Key Players An...
- Acrylamide Production Cost Analysis Report: A Comprehensive Assessment Of...
- Fish Sauce Market 2024, Industry Trends, Growth, Demand And Analysis Repo...
- Australia Foreign Exchange Market Size, Growth, Industry Demand And Forec...
- Cold Pressed Oil Market Trends 2024, Leading Companies Share, Size And Fo...
- Pasta Sauce Market 2024, Industry Growth, Share, Size, Key Players Analys...
Comments
No comment