Oil prices rose today, Friday, amid uncertainty over the prospects of Russia’s European oil embargo, as well as a drop in the number of Corona virus infections in China.
At 9:13 a.m. Moscow time, U.S. West Texas Intermediate crude futures were up 1.17% to $ 107.37 per barrel.
Meanwhile, Brent crude futures rose 1.38% to $ 108.93 a barrel, according to data on the Bloomberg website.
This comes at a time when the European Union is considering imposing a sixth package of sanctions against Russia, amid division among European countries over the imposition of Russia’s oil embargo.
And the Bloomberg agency reported, citing European diplomats, that some European Union countries believe it is necessary to consider the possibility of postponing the embargo on Russia’s oil imports, in case it is not supported by Hungary (Hungary).
Earlier, International Energy Agency Executive Director Fatih Birol warned that the world is facing the first global energy crisis, saying that the sanctions imposed on Russia and the response to it will have a significant impact on the energy market.
Source: Bloomberg + Interfax
Source: Arabic RT
