Oil prices closed higher on Monday, with the US contract returning more than $ 100 a barrel as horrific images of dead civilians in Ukrainian cities sparked a debate over new sanctions following the withdrawal of Russian troops. Moscow.
Crude for May delivery gained $ 4.01, or 4%, to close at $ 103.28 a barrel on the New York Mercantile Exchange. On Friday, the contract had fallen to $ 99.27, the lowest level since March 16.
Brent for June also gained strong gains, adding $ 3.14 or 3% to $ 107.53 a barrel on ICE Futures.
The US contract fell 12.8% last week, while Brent fell 11.1%, marking the biggest weekly losses since April 2020.
European Commissioner Paolo Gentiloni, speaking today after the end of the meeting of Eurozone finance ministers, stressed that sanctions on Russian gas remain on the table.
“All sanctions have an impact on the economy – if we want to respond to military action with financial tools we have to accept the cost,” he said, warning that if there is an “expansion [των κυρώσεων] and in gas this impact will increase. ”
“We will not take new measures today, but in the future [το φυσικό αέριο] will be on the table and will depend on developments there [στην Ουκρανία] and not from the costs it may have for the EU. “We are not planning it now, but we are not taking it off the table,” he added.
Source: Capital
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