continued oil prices Its rise today, Tuesday, amid fears of supplies in the markets due to the repercussions of the Russian war in Ukraine and the Houthi attack on a Saudi oil facility.
Brent crude futures rose by 2.23% to reach $118.18 a barrel, and US crude futures also rose by 2.13% to $112.31 a barrel.
Brent contracts closed to the nearest maturity of yesterday’s trading session, up $7.69, or 7.12%, to record at a settlement of $115.62 a barrel.
US West Texas Intermediate crude contracts rose $7.42, or 7.09%, to settle at $112.12 a barrel.
European Union governments will consider whether to impose an oil embargo on Russia over its invasion of Ukraine when they gather this week with US President Joe Biden for a series of summits aimed at toughening the West’s response to Moscow.
The European Union has already imposed a list of measures once morest Russia, including freezing the assets of its central bank.
