Business Maverick: Oil Prices Soar as Russian Embargo Talk Fuels Fears of Supply Shortage

said its oil production fell below 1 million barrels a day because of a political crisis, adding to an already tight supply-demand balance.Brent for May settlement advanced 9.1% to $128.86 a barrel on the ICE Futures Europe exchange at 10:47 a.m. in Singapore.West Texas Intermediate for April delivery gained 8.1% to $125.08 on the New York Mercantile Exchange.

Brent’s backwardation, a bullish structure where prompt barrels are more expensive than later-dated cargoes, rose to $5.24 a barrel, highlighting nervousness about short-term supply. The prompt spread was $3.77 on Friday.warned that the war, as well as the subsequent sanctions imposed on Russia, will have a “severe impact” on the global economy.

𝙸 𝚓𝚞𝚜𝚝 𝚖𝚊𝚍𝚎 R100k 𝚒𝚗 5 𝚍𝚊𝚢𝚜 𝚘𝚏 𝚝𝚛𝚊𝚍𝚒𝚗𝚐, 𝚒𝚝'𝚜 𝚞𝚗𝚋𝚎𝚕𝚒𝚎𝚟𝚊𝚋𝚕𝚎! 𝙰𝚕𝚕 𝚝𝚑𝚊𝚗𝚔𝚜 𝚝𝚘 Nelly_wa_Macha 𝚐𝚛𝚊𝚝𝚎𝚏𝚞𝚕 𝚖𝚊, 𝙸'𝚕𝚕 𝚔𝚎𝚎𝚙 𝚘𝚗 𝚝𝚎𝚜𝚝𝚒𝚏𝚢𝚒𝚗𝚐 𝚘𝚏 𝚢𝚘𝚞𝚛 𝚐𝚘𝚘𝚍𝚗𝚎𝚜𝚜

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: PwC, KPMG Announce Departure From Russia Over War in UkrainePricewaterhouseCoopers LLP is set to exit Russia after 30 years of doing business there, and KPMG LLP is pulling out of Russia and Belarus in response to the war in Ukraine. 𝙸 𝚓𝚞𝚜𝚝 𝚖𝚊𝚍𝚎 R100k 𝚒𝚗 5 𝚍𝚊𝚢𝚜 𝚘𝚏 𝚝𝚛𝚊𝚍𝚒𝚗𝚐, 𝚒𝚝'𝚜 𝚞𝚗𝚋𝚎𝚕𝚒𝚎𝚟𝚊𝚋𝚕𝚎! 𝙰𝚕𝚕 𝚝𝚑𝚊𝚗𝚔𝚜 𝚝𝚘 Nelly_wa_Macha 𝚐𝚛𝚊𝚝𝚎𝚏𝚞𝚕 𝚖𝚊, 𝙸'𝚕𝚕 𝚔𝚎𝚎𝚙 𝚘𝚗 𝚝𝚎𝚜𝚝𝚒𝚏𝚢𝚒𝚗𝚐 𝚘𝚏 𝚢𝚘𝚞𝚛 𝚐𝚘𝚘𝚍𝚗𝚎𝚜𝚜 It was very difficult for me and my family to feed during the pandemic am so grateful to god for letting me come across Nelly_wa_Macha
Source: dailymaverick - 🏆 3. / 84 Read more »