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Oil market: The barrel of Brent is close to 140 dollars

07/03/2022
Categories: Raw materials

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The aggravation of the conflict in Ukraine and the almost total stoppage of Russian oil exports are boosting the oil market. The price of a barrel of Brent from the North Sea, one of the two benchmark varieties on the market, came close to 140 dollars on Sunday, close to its absolute record.

Since the launch of the invasion of Ukraine by Russian troops, Brent has taken 33%. Around 11:00 p.m. GMT, Brent for May maturity, the benchmark contract, rose to 139.13 dollars, within reach of the absolute record, or 147.50 dollars, which dates from July 2008. The price then fell back , but around 00:30 GMT it was still up 9.02%, at $128.77.

The other market benchmark, the barrel of West Texas Intermediate (WTI), the main American variety, due in April, rose to 130.50 dollars on Sunday. Around 0:30 GMT, it was up 8.18% to 125.15 dollars.

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