Oil: Over $ 120 a Brent, in the shadow of the US embargo threat on Russian crude

LAST UPDATE: 17:45

Brent crude hovered above $ 120 a barrel on Monday, amid reports that the United States has already opened the debate on a ban on Russian oil imports, which has created even greater unrest in an already troubled Russia due to the Russian invasion of Ukraine. Buy.

Such prices, even if not pushed further, would be a major inflation shock for the world economy. According to Bloomberg, the government of President Joe Biden is considering an embargo on Russian oil even without the involvement of its European allies, according to two sources familiar with the matter.

US Secretary of State Anthony Blinken made the remarks on “active discussions” with Europeans over an embargo that would put pressure on Vladimir Putin and his regime, speaking to NBC.

JPMorgan Chase has estimated that at the end of the year oil could have jumped to $ 185 a barrel, while a hedge fund stressed that all $ 200 can not be ruled out as a prospect.

However, German Chancellor Olaf Solz said today that he was opposed to the cut-off of energy supplies from Russia, calling oil and gas imports “essential” for the European economy, according to Bloomberg.

In this climate, the global benchmark, Brent oil delivery in Maygains more than 4% to $ 122.89 a barrel, having already strengthened by 21% last week.

The american press type WTI April delivery “climbs” by 2.4%, to $ 118.43 a barrel, having gained 26% last week.

U.S. officials met in Caracas a few days ago to discuss with Maduro officials its ties to Russia and the issue of global oil supplies, and a deal between the major powers and Iran seems closer and closer.