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Global Crude Oil Price Hits $116 Barrel, Records At Over 8-Year High | What Are The Reasons?
Posted
March 3, 2022
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292
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March 3, 2022
292
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1:55Now PlayingAs the Ukraine crisis intensifies, energy prices continue to surge as Brent oil has reached $116/barrel. Brent crude oil futures soared past the $118-mark and were up nearly 3 per cent as the ongoing invasion of Ukraine by Russia showed no signs of easing. The sanctions imposed on the Russian economy by members of the North Atlantic Treaty Organisation have led to concerns of the country’s oil exports being cut off. International benchmark Brent crude hit a high of $107.57 per barrel, this price was last seen in July 2014. Soumeet Sarkar from Times Network, helps us understand the key reasons behind this price rise. Watch!
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