The barrel of Brent North Sea crude for May delivery closed with a strong rise of 7.12 percent, recording 115.62 dollars.
This is the highest level in 10 days, prompted by the possibility of imposing a European embargo on Russian oil.
As for the barrel of West Texas Intermediate American reference for delivery in April, it closed at a rise of 7.08 percent, recording 112.12, to cross the threshold of 110 dollars for the first time in nearly two weeks.
The price of a barrel of Brent crude was about $ 108 on March 18, and it is still higher than the level it was when the Russian invasion of Ukraine began by about $ 94, but during the past two weeks, it has fallen from $128 to $98.
These fluctuations reflect “the interaction between the geopolitical and economic forces that are plaguing the world today, from war to high interest rates and the Corona pandemic.”