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Last week (the week ending March 11), due to the continued tension in Ukraine, the International Energy Agency said that it may release more strategic crude oil reserves, the United Arab Emirates expressed its preference for increasing oil production and other factors, international oil prices fluctuated widely, falling significantly throughout the week, WTI oil prices fell 5.
5%, Brent oil prices fell 4.
6%.
On the 11th, WTI oil prices closed at $109.
33 / barrel, and Brent oil prices closed at $112.
67 / barrel
.
Europe and the United States stopped or reduced energy imports from Russia, pushing Brent oil prices up $4.
77 / barrel on the 8th to $127.
98 / barrel, the highest closing price
since July 2008.
On the same day, the United States announced a ban on energy imports from Russia, the United Kingdom announced that it would gradually stop importing oil and petroleum products from Russia before the end of the year, and a draft of the European Union showed that natural gas imports from Russia would be reduced by 2/3
this year.
On March 9, multiple factors prompted investors to take profits, and international oil prices fell sharply by more than
12%.
At present, the market oil supply has not been massively reduced, and high oil prices have had a negative impact on demand, and if the situation in Ukraine eases in the coming weeks, oil prices will fall
further.
