Oil prices jumped to their highest level in two months on Monday, pushing the price of Brent above $ 120, due to continued rise in gasoline and diesel prices.
Brent crude futures rose 61 cents, or 0.51%, to $ 120.04 a barrel at 0439 GMT, while U.S. West Texas Intermediate crude futures rose 61 cents, or 0.51%, to $ 120.04 a barrel.
The last time Brent crude fell above $ 120 per barrel was in late March, shortly before U.S. President Joe Biden announced the release of one million barrels a day for six months from the strategic reserve. .
The move pushed the price of Brent crude to a low of $ 98 per barrel in early April, but since then it has risen to more than $ 100 per barrel.
The European Union is scheduled to meet in Brussels today, Monday and Tuesday, to discuss a sixth package of sanctions against Russia, which includes the Russian oil embargo.
Source: The Hill
Source: Arabic RT
