Brent oil price per barrel is $109.41

Global markets take the barrel price of Brent oil as a reference for other commodities and pricing.

The barrel price of Brent oil became 109.41 dollars, an increase of 1.6 percent compared to the closing date as of 09:25 today. At the same time, a barrel of West Texas type crude oil found buyers at $106.03.

US-EU SANCTIONS NEGOTIATION TRIGGED SUPPLY CONTRACTION
The increase in prices was due to the fact that the talks between the European Union (EU) and the USA to increase the effectiveness of the sanctions imposed on Russia and to prevent the ways to avoid them, triggering the concerns of the contraction in supply.

EU High Representative for Foreign Relations and Security Policy Josep Borrell said that Russia should be isolated from the world oil and natural gas market as soon as possible.

EFFORTS TO SUPPORT THE MARKETS FOR THE EMERGING ENERGY DEFICIT
US President Joe Biden; In a joint phone call with French President Emmanuel Macron, German Chancellor Olaf Scholz, Italian Prime Minister Mario Draghi and British Prime Minister Boris Johnson, he also discussed efforts to support the energy market for the energy deficit that will arise due to the ongoing war and the sanctions imposed on Russia.