WTI Crude Rose 3.6% to $123.71 a Barrel, Brent Rose 4.12%

Tiger Newspress2022-03-08

WTI crude rose 3.61% to $123.71 a barrel, Brent rose 4.12%.The U.S. was set to ban Russian oil, liquefied natural gas and coal without European participation as soon as Tuesday, according to the Bloomberg News report.

Americans are now paying the most at the pump on record as energy prices surge, contributing to rampant inflation that’s hitting all areas of the economy.

The national average for a gallon of regular gas rose to $4.173 on Tuesday,according to AAA.

The prior record was $4.114 from July 2008, not adjusted for inflation.

Tuesday’s new high follows a sharp spike in gas since Russia invaded Ukraine, sending oil prices surging.

Consumers are paying 55 cents more than one week ago, and about 72 cents more than last month.

Oil prices, meantime, jumped Sunday to prices last seen in 2008.

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Comments

  • ShinyStars38
    2022-03-09
    ShinyStars38
    Importantly is , can we survive the rising petrol cost before oil price drop to normal ?😭😭😭
  • robot1234
    2022-03-09
    robot1234
    US has done extremely well threatening and forcing practically all private enterprises from US and her allies to close their operations in Russia. She is also threatening China of unprecedented repercussions if China violates the US-led sanctions. This move is likely to cause severe unemployment and rapid deterioration in the Russia's economy. Hopefully, Putin has a good countermeasure to mitigate the sanctions
  • Jawslea
    2022-03-09
    Jawslea
    Oh no
  • Jawslea
    2022-03-09
    Jawslea
    Oh no
  • wayjay1159
    2022-03-09
    wayjay1159
    Good for alternate energy
  • cweida
    2022-03-09
    cweida
    Surging oil prices add fuel to inflation
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