Rising oil prices due to fears of disruption of Russian oil supply

According to the Fars International Economic Group, quoted by Reuters, the escalation of sanctions against Russia caused a warning of nuclear readiness from this country and the price of oil increased in Monday’s trading.

Brent crude rose above $ 100 a barrel again, rising more than $ 7 in the early hours of trading following a nuclear warning and restrictions on bank payments that could disrupt the supply of oil to the world’s second-largest oil producer.

Russia supplies about 10 percent of the world’s oil.

Brent crude traded up $ 4, 37 cents, at $ 102.30 a barrel. Brent oil was at $ 105.07 today.

Brent crude hit a seven-year high of $ 105.79 a barrel last Thursday after Russia launched a special military operation on Ukrainian soil.

US crude traded up $ 4.14 at $ 95.73. This type of oil reached $ 99.10 per barrel today.

The WTI hit $ 100.54 a barrel last Thursday.

Daniel Haines“US and European measures to cut off access to some Russian banks to,” said ANZ strategist swift“It has raised concerns about short-term supply disruptions.”

He added: “The risk of supply disruption has reached its highest level and has been created in a situation where supply in the market is limited.”

Putin on Sunday ordered Russia’s nuclear deterrents to stand ready, following Western pressure on Russia and the escalation of economic sanctions.

end of Message/