The price of a barrel of North Sea Brent oil - one of the benchmark varieties on international crude markets - today approached 140 dollars, in other words its all-time high, which was 147.5 dollars where it had reached in July 2008, pushed upwards by the worsening war in Ukraine and the almost complete suspension of Russian oil exports.
Shortly after the start of electronic trading on international commodity markets, at 01:00 (Cyprus time), the price of Brent for May delivery, a benchmark futures contract, reached $139.13 a barrel before retreating somewhat. Around 02:30 (Cyprus time), the price was up around 9.02%, at $128.77.
(CNA)
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