Oil prices have reached levels not seen since 2008 as Washington is in talks with its European allies to block imports of Russian oil.
The barrel of Brent soars, Washington plans to block imports of Russian oil | Photo credits: Christopher Halloran / Shutterstock.com
Oil prices hit 14-year highs in Asia this morning as the United States and its European partners discuss a ban on Russian oil imports.
The barrel of Brent from the North Sea jumped by more than 10% to 130.28 dollars after a peak at 139.13, unseen since July 2008. Prices have thus increased by more than 20% compared to their level Friday closing.
” We are in discussions with our European partners and allies to consider a coordinated way to block Russian oil imports while ensuring that supplies in the global oil market remain adequate. said the US Secretary of State on CNN on Sunday.
More information to follow.