New jump in the price of oil

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Oil and gas prices jumped again on Tuesday, with US crude hitting new highs since June 2014 and a 30% jump in key European gas prices as Russian forces advanced into the Ukrainian capital.

Brent crude was up 8.79%, or $ 8.50, at $ 106.60 a barrel, while US WTI crude was up 10%, or $ 9.50, at $ 105.26. the barrel.

According to CNBC, US crude hit $ 106.5 a barrel, its highest level since June 2014, while Brent rose to $ 107.26 a barrel, its highest level since July 2014.
According to the American news network, the International Energy Agency agreed on Tuesday to release 60 million barrels of oil from world reserves, in an effort to ease some of the current supply constraints.

According to the agency, the release of 60 million barrels represents 4% of the emergency reserves held by ILO members totaling 1.5 billion barrels.

This coordinated action is only the fourth in the history of the ILO.

Moreover, the price of the main European gas (Amsterdam), April contracts, makes a jump of 30.33%, to € 128.50 per megawatt hour, while it started trading at € 99 per megawatt hour.

Meanwhile, the Crown Prince of Abu Dhabi and de facto leader of the United Arab Emirates, Sheikh Mohammed bin al-Nahyan, and Russian President Vladimir Putin stressed the need to “maintain stability” during the global telephony market. had today and discussed the Ukrainian crisis and energy, according to the official Emirates news agency WAM.

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