Friday, April 19, 2024

Oil prices above $ 130 for the first time since 2008

Date:

Istanbul / Anatolia

Crude oil prices rose at the start of weekly trading on Monday, hitting a one-barrel high of $ 130, its highest level since 2008.

The rise comes amid fears of Western sanctions on Russia’s oil sales and delays in reaching a settlement on Iran’s nuclear deal.

06:43 By GMT, Brent crude for May delivery was up 12.1 percent, or $ 11.3, to $ 130.16 a barrel.

The US West Texas Intermediate crude futures for April delivery was up 10.33 percent, or $ 8.9, to $ 125.85 a barrel.

Russia produces the world’s second-largest crude oil with an average of 10.2 million barrels per day, while Iran is the third largest oil producer at OPEC, with an average of 3.86 million barrels per day.

As the global economy moves towards the tide of inflation, tensions in Eastern Europe continue to cast a negative shadow over global markets, as prices of key commodities driven by oil, gas and wheat continue to rise. Since this March.

And on Saturday, the Iranian nuclear body announced that it had reached an agreement with the International Atomic Energy Agency to resolve issues related to the nuclear program as part of efforts to renew the 2015 agreement.

However, since May 2018, the United States has unilaterally withdrawn and no announcement has been made regarding the re-establishment of the nuclear deal, which has been stalled since the re-imposition of sanctions on Tehran.


The news published on the official page of the Anatolian Agency is a summary of a portion of the news provided to subscribers by the News Stream System (HAS). To subscribe to the agency, contact the following link.

See also  Price of the Turkish lira against the dollar .. Historic decline of the Ankara currency

Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

Share post:

Popular

More like this
Related

Unlocking the Power of Booking Engines in the Hospitality Industry

In an era dominated by technology, the hospitality industry...

Boost Your Sales with Perfect Banner Printing Services in Dubai

In the fast-paced world of business, effective advertising is...

Defend Against DDoS Attacks with Qrator Labs’ Anti-DDoS Solutions

Protecting your online assets from DDoS (Distributed Denial of...

UAE Powering Gaming Boom in the Middle East

The gaming industry in the Middle East is experiencing...