Prices for petroleum products hit records again
On Monday, oil prices rose again, breaking the record value of 2008. The reason for this was the possibility of a ban on Russian oil imports and a simultaneous decrease in the prospects for a quick return of Iranian oil to world markets.
Brent oil reached $139.13 per barrel, while the price of US WTI rose to $130.50. Global oil prices have risen by more than 60 percent since the start of 2022.
In connection with the crisis in Ukraine, US Secretary of State Anthony Blinken said that the United States and its European allies are exploring the possibility of banning Russian oil imports. A protracted war could send Brent crude above $150 a barrel, he said. At the same time, if most of the export of Russian oil stops, then the deficit could be 5 million barrels per day, which would lead to an increase in prices up to $200.
Meanwhile, talks to restart Iran's nuclear deal with world powers have dragged on. Russia has demanded a guarantee from the United States that the sanctions it faces over the conflict in Ukraine will not harm its trade with Tehran.