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    Home > Chemicals Industry > Petrochemical News > Straight to 140! International oil prices skyrocketed!

    Straight to 140! International oil prices skyrocketed!

    • Last Update: 2023-03-07
    • Source: Internet
    • Author: User
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    After the United States and its allies imposed sanctions on Russia over the Russian-Ukrainian conflict, international crude oil prices soared for a week, and another rushed to a high - at the opening of trading on Monday, U.
    S.
    and Bran crude oil futures rose more than 10%.

    Brent crude oil once approached $140, and WTI crude oil futures once exceeded $130 per barrel, both hitting new highs
    since 2008.

    ▲At the beginning of 2022, international oil prices soared

    Oil prices continue to soar, "stock god" Buffett shot again! According to a new SEC filing, Buffett's Berkshire Hathaway increased its stake in Occidental Petroleum to 113 million shares, worth $5.
    3 billion
    .

    Affected by the soaring international oil prices, Buffett's big buying news, the A-share oil and gas sector continued to rise, and most oil stocks rose
    .

    Reuters reported that oil prices soared to their highest level since 2008 as Iranian crude oil may delay its return to global markets and the United States and European allies consider banning imports of Russian oil
    .

    On Sunday, Iran's negotiations with world powers to restart the 2015 nuclear deal were thrown into uncertainty
    after Russia demanded assurances from the United States that the sanctions it faced would not hurt its trade with Iran.

    In the minutes leading up to Sunday's trading, both benchmarks rose to their highest levels since July 2008, with Brent crude at $139.
    13 a barrel and WTI at $
    130.
    50.

    The data shows that Russia is the world's major crude oil producer and exporter, as well as the world's largest natural gas exporter, and ranks first
    in the world in natural gas reserves.
    The EU is the world's largest importer of crude oil, and more than eighty percent of crude oil consumption depends on imports
    .
    Russia is the EU's largest single source of crude oil, providing about 27% of the
    EU's crude oil imports.

    In this scenario, analysts expect oil supply to fall by 2.
    3 million barrels per day, which could push oil prices higher to around
    $150 a barrel.


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