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Posted on: Tuesday, March 8, 2022 – 6:39 PM | Last update: Tuesday, March 8, 2022 – 6:39 PM
Crude oil futures prices rose at noon today, Tuesday, to $130 a barrel, on the back of the United States’ readiness to impose a ban on oil and natural gas exports from Russia, and the announcement by a number of major companies, including Shell, to stop buying Russian crude.
In the trading of the London Mercantile Exchange, the price of crude exceeded the level of $ 130 a barrel of the international oil standard, Brent crude, while the price of West Texas Intermediate crude, the standard crude for US oil, rose following reaching its highest level since 2008 yesterday.
The price of West Texas Intermediate crude, the benchmark for American oil, rose by 4.8 percent to $125.16 a barrel for delivery next April in New York trading at 8:47 a.m. New York time, following rising yesterday by 3.2 percent. The price of Brent crude, the global oil benchmark, rose 5.4 percent to $129.82 a barrel for delivery in May.
