Supply concerns made oil more expensive by 4%

According to the report of the Fars International Economic Group, quoted by Reuters, due to the concerns about the supply reduction, the price of oil grew by about 4% in the trading on Friday, but due to the sharp increase in the interest rate of the American bank and the impact of restrictions Corona In China, the demand outlook recorded a second week of decline.

A barrel of Brent oil was sold with an increase of 3 dollars and 69 cents to 92.84 dollars and a barrel of US crude oil was traded with an increase of 3 dollars and 25 cents to 86.79 dollars.

Putin has threatened to stop oil and gas exports to Europe if the price cap is imposed.

Another factor that boosts oil prices is the slight decrease in OPEC production plus It was in the meeting of this group last week.

Stephen Barnak“In the coming months, the West will have to deal with the risk of losing Russian energy supplies and rising oil prices,” said the oil trader.

The price of Brent oil after the attackguarantor It had reached nearly $147 a barrel, but it fell due to pressure from concerns about the economic slowdown and demand.

The group of G7 member countries is trying to find a way to limit Russian oil export earnings. A US Treasury Department official told reporters that the price ceiling that this group wants to impose on Russian oil should be set at the fair market price without any insurance premium.

Despite Friday’s rise in prices, both oil indexes fell over the past week, with Brent oil down about 0.2 percent and US crude down 0.1 percent.

An official of the US Department of Energy said that the White House will release a new strategic reserve of more than 180 million barrels that was previously Biden He had announced that he is not considering it at this time.

Earlier, Jennifer GranholmThe US Secretary of Energy told Reuters that the government is considering the need to release more strategic reserves.

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