Monday, June 24, 2024

Brent crude deals are once again rising above $ 101


Brent crude rose to $ 101.20 a barrel in Asian trade on Friday, a day after Russia’s attacks on Ukraine topped $ 105.
Oil prices rose on Thursday, and Brent rose above $ 105 a barrel for the first time since 2014, lowering its profit below $ 100.
Russia’s attack on Ukraine has raised concerns about disruptions to global energy supplies. After World War II, Russia launched a full-scale occupation of Ukraine by land, air and sea in a major state offensive against another country in Europe.
Brent crude traded up $ 2.24, or 2.3 percent, to trade at 99.08 dirhams a barrel, up $ 105.08 earlier today.
US benchmark West Texas Intermediate crude trades were up 71 cents, or 0.8 percent, at $ 92.81 a barrel after hitting a session high of $ 100.54.
Brent and US crude hit record highs after October and July 2014, respectively.
Prices fell after US President Joe Biden said the United States was working with other countries to jointly release extra oil from global strategic crude reserves.
In the United States, commercial oil stocks rose 4.5 million barrels to 416 million barrels last week, a bigger increase than analysts’ expectations, as voted by Reuters, which pointed to a rise of 400,000 barrels.
But crude oil stocks in the U.S. Strategic Petroleum Reserve are down 2.4 million barrels to 582.4 million barrels, the lowest level since 2002.

See also  Turkish inflation continues to jump in light of the lira's decline
Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

Share post:


More like this

The Real Benefits of Being a VIP in the Online Casino Scene

Becoming a VIP can be a long process that...

The Evolution of Online Casino Bonuses: Trends and Future Predictions

Online casino bonuses have transformed from basic sign-up offers...

The best ways to protect your skin from sun damage in 2024

Caring for your skin is a healthy lifestyle that...

The easiest way to access the best UAE stocks

The most common way to invest in the UAE...