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Tuesday May 24, 2022

Oil prices peak at $ 100 a barrel due to supply fears – Indy News

Rep. Buddy Carter, R. Ga., Discusses his proposed bill to backtrack on the Biden administration’s power policy and revive the Keystone XL pipeline. The United States and global oil prices have risen again on new concerns about supply. Russia invades Ukraine: Live Updates Crude oil rose to 10 102 a barrel, while Brent crude, a global benchmark, touched 6 106 a barrel. Ticker Security Last Change Change% USO United States Oil Fund LP 73.68 +5.40 + 7.91% BNO United STS Brent Oil +9247. 8.99% The International Energy Agency (IEA) says falling oil demand due to high prices will not cut off Russian oil supplies, according to Reuters. About 3 million barrels of Russian oil production per day could be cut off due to Western sanctions and the suspension of Russian exports by buyers. This will exceed the expected 1 ‑ million-BPD drop due to higher prices. A maze of crude oil pipes and valves during a visit to the Energy Department on June 9, 2016, at the Strategic Petroleum Reserve in Freeport, Texas. (REUTERS / Richard Carson) Gas prices stable, AAA per gallon, $ 4.28. Go to FOX Business by clicking here. 415.9 million barrels per week from March 11, according to the EIA, exceeded analysts’ expectations for a reduction of 1.4 million barrels. A

The post Oil price above 100 100 per barrel due to fear of supply was first published by Populist Press © 2022.

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