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[size=36]Oil jumps to $111 amid investor fears of a shortage[/size]
Economie| 12:11 - 06/05/2022
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Follow-up - Mawazine News:
Oil prices witnessed a rise today, Friday, in light of investors' fear of a shortage in it, in light of the "OPEC +" decision and the statement of the President of the European Commission.
July futures contracts for Brent crude rose 0.58% to $111.54 a barrel, and June futures for West Texas Intermediate crude by 0.55% to $108.56.”
In addition, the price hike supports the recent proposal of European Commission President Ursula von der Leyen to impose a complete oil embargo on Russian oil in phases as part of a new sixth round of sanctions.
"The focus may remain on the supply issues arising from the European Union's proposal to impose sanctions on Russian oil within six months," The Wall Street Journal quoted UOP analysts as saying.
Oil prices witnessed a rise today, Friday, in light of investors' fear of a shortage in it, in light of the "OPEC +" decision and the statement of the President of the European Commission.
July futures contracts for Brent crude rose 0.58% to $111.54 a barrel, and June futures for West Texas Intermediate crude by 0.55% to $108.56.”
In addition, the price hike supports the recent proposal of European Commission President Ursula von der Leyen to impose a complete oil embargo on Russian oil in phases as part of a new sixth round of sanctions.
"The focus may remain on the supply issues arising from the European Union's proposal to impose sanctions on Russian oil within six months," The Wall Street Journal quoted UOP analysts as saying.
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