The reason for the vertical rise in black gold prices are the reports of the US Secretary of State on CNN.
Fear and uncertainty prevail over the war in Ukraine and the rapidly changing Western sanctions against Russia.
Asian markets opened at dawn in deep red, while Brent oil jumped to $ 136 a barrel and WTI to $ 130.
The reason for the sharp rise in black gold prices are the reports of the US Secretary of State on CNN, which leaves open the possibility of imposing sanctions, which will touch on Russian oil.
“We are discussing with our European partners and allies the need to coordinate the idea of banning Russian oil imports while ensuring that stocks in world markets are sufficient,” said Anthony Blinken.
Markets are clearly worried as such a development would knock out the world’s second-largest crude oil producer.
Russia under normal circumstances:
– Produces: 11 million barrels per day
– Exports: 8 million barrels
Internal market: 3 million barrels
Indicative of the prevailing uncertainty is the price of gold.
The safe haven, as it is characterized, solemnly confirms its reputation, as its price at the opening of the Asian markets increased to almost $ 2,000 per ounce.