Jakarta –
The world price of US crude oil touched the highest price after almost 14 years, or since the 2008 financial crisis. This could happen because of concerns about oil supply due to the impact of the Russia-Ukraine war.
Quoted from CNN, Friday (4/3/2022). The highest level of world oil prices broke US$ 116.57 or equivalent to Rp. 1.66 million (exchange rate of 14,300) per barrel on Thursday morning local time.
But the spike didn’t last long. By the afternoon, the price of US Crude oil changed to US$ 110.75 or Rp. 1.58 million per barrel.
Although the highest spike after 14 years has decreased. If this figure is still 20% higher than the initial position when Russia attacked Ukraine.
The price of Brent crude oil, which is the world’s benchmark, also experienced the highest spike on Thursday morning yesterday. Intraday Brent even broke at US $ 119.84 or Rp 1.7 million per barrel, this figure was the highest since May 2012.
Russia is the number two oil producer in the world. As a result, Russia’s invasion of Ukraine has sparked fears of disruption to world oil supplies.
Western countries have not imposed sanctions on Russia’s oil and gas trade. However, some importers have begun to reduce their purchases from the country led by President Vladimir Putin.
Watch Videos “One week of Russian invasion, 1 million people left Ukraine“
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