Oil prices are rising again, approaching $110
Economy
- 4-05-2022, 21:01
INA – BAGHDAD
Oil prices continued to rise on Wednesday, with little progress in peace talks between Russia and Ukraine, raising fears of tougher sanctions and prolonged oil supply disruptions.
The prices of Brent crude reached approximately $110 per barrel.
Last Friday, Brent crude jumped to $2.43, or 2.3 %, to $109.07 a barrel by 01:41 GMT, after rising about 9% yesterday in the largest percentage increase since mid-2020.
US West Texas Intermediate crude rose $2.75, or 2.7 %, to $105.73 a barrel, after an 8% jump last Thursday.
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