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Brent crude exceeds $131 a barrel
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Economy News _ Baghdad
Oil prices continued to rise today, Wednesday, amid continuing turmoil in Eastern Europe, and US President Joe Biden's announcement yesterday that the United States would ban the import of Russian oil, but his statement not to obligate Europe to this decision curbed its rise.
Brent crude futures for May 2022 delivery rose 2.71% to $131.45 a barrel, while US crude futures for April delivery rose 2.13% to $126.34 a barrel.
On Tuesday, US President Joe Biden announced a US ban on Russian energy imports, including oil and gas, stepping up a campaign of pressure on Moscow in response to the invasion of Ukraine.
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