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Oil: Brent barrel hits record high – hits $ 140

The price of its barrel oil North Sea Brent – one of the reference varieties in the international crude markets – approached $ 140in other words its record high, which was $ 147.5 where it had reached in July 2008, pushed upwards by its deterioration war in Ukraine and the almost complete suspension of Russian oil exports.

Shortly after the start of electronic trading in international commodity markets, at 01:00 (Greek time), the price of Brent for delivery in May, a futures contract, reached $ 139.13 a barrel, before falling slightly. At around 02:30 (Greek time), the price increase was around 9.02%, at 128.77 dollars.

Since the beginning of the Russian invasion of Ukraine, the price of Brent has risen by 33%.

As for the other market reference variety, West Texas Intermediate (WTI), the main US oil exported, the price of a barrel for delivery in April reached $ 130.5. At 02:30, it recorded an increase of 8.18%, to $ 125.15.

The head of US diplomacy, Anthony Blinken, said the United States and the European Union were “very actively discussing” the possibility of banning oil exports from Russia in retaliation for the invasion of Ukraine.

Although, at least in theory, oil is exempt from Western sanctions to date, Russian exports have dropped dramatically as buyers have shrunk dramatically. Shell was one of the few companies to take the risk last week.

“Stop buying Russian oil” demanded during an interview with CNN, Ukrainian Foreign Minister Dmitry Kuleba, reacting to the purchase by Shell of 100,000 tons of Russian oil.

The price of an ounce of gold exceeds $ 2,000

Its price of gold exceeded $ 2,000 per ounce in Asian markets this morning, as many investors turn to this precious metal as safe, amid growing concerns about the impact of the war in Ukraine on the world economy.

The price of an ounce of gold reached $ 2,000.86, or in other words its highest level since September 2020.

Source: News Beast

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