The price of a barrel of US oil WTI raised its price this Tuesday, March 1, by more than 10% and that of the barrel of Brentboth indices reached record levels since 2014, with a value of 106.29 dollars per barrel of WTI and $107.44 from Brent’s.
The reference WTI oil for America had closed on Monday with a rise of 4.5% and stood at 95.72 dollars a barrel, with which it appreciated almost 9% in the month of February.
This caused the shares to fall due to fears about a higher inflation that could complicate the Federal Reserve’s job at a time when Russia’s invasion of Ukraine is seen as a potential threat to economic recovery.
The International Energy Agency (IEA) agreed on Tuesday to release 60 million barrels of oil from the strategic reserves of its members around the world to ensure that there will be no supply problems after the Russian invasion of Ukraine.
“The situation in the energy markets is very serious and demands our full attention. Global energy security is under threat, putting the world economy at risk during a fragile stage of the recovery,” the IEA said in a statement.
Source: Larepublica
Kingston is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
