<div id="firstBodyDiv" data-bind-html-content-type="article" data-bind-html-compile="article.body" data-first-article-body="
and in Shanghai، Beijing He started stockpiling food for fear of a similar shutdown following a few infections surfaced.
By 9:13 am GMT, the futures contracts forRaw brent $4.63, or 4.3 percent, to $102.02 a barrel, and touched $101.94 earlier in the session, the lowest level since April 12.
The futures contract prices also fellWest Texas Crude The median was $4.11, or 4 percent, to settle at $97.96 a barrel.
Oil is also weak with the possibility of raising US interest rates This boosts the dollar, and a strong dollar makes the commodities priced in it more expensive for holders of other currencies.
Both benchmarks lost nearly 5 percent last week due to concerns regarding demand, and Brent crude fell sharply following hitting $139 last month, its highest level since 2008.
Oil gained support from a tight supply, and Russian military operations led to Ukraine to cut supplies already due to Western sanctions And customers avoided buying Russian oil.
However, the market may witness an even greater shortage of supplies with the possibility of imposing European Union ban on Russian crude.
The Times newspaper reported, today, Monday, quoting the Executive Vice President of the European Commission, Valdis Dombrovskis, that the bloc is preparing "smart punishments" targeting Russian oil imports.
“>
and in Shanghai، Beijing He started stockpiling food for fear of a similar shutdown following a few infections surfaced.
By 9:13 am GMT, the futures contracts forRaw brent $4.63, or 4.3 percent, to $102.02 a barrel, and touched $101.94 earlier in the session, the lowest level since April 12.
The futures contract prices also fellWest Texas Crude The median was $4.11, or 4 percent, to settle at $97.96 a barrel.
Oil is also weak with the possibility of raising US interest rates This boosts the dollar, and a strong dollar makes the commodities priced in it more expensive for holders of other currencies.
Both benchmarks lost nearly 5 percent last week due to concerns regarding demand, and Brent crude fell sharply following hitting $139 last month, its highest level since 2008.
Oil gained support from a tight supply, and Russian military operations led to Ukraine to cut supplies already due to Western sanctions And customers avoided buying Russian oil.
However, the market may witness an even greater shortage of supplies with the possibility of imposing European Union ban on Russian crude.
And The Times newspaper reported, today, Monday, quoting the Executive Vice President of the European Commission, Valdis Dombrovskis, that the bloc is preparing “smart sanctions” targeting Russian oil imports.
