Barrel of Brent crude moves past $111, while petrol at UK forecourts hit 151.67p on TuesdayLatest business updates: oil price blasts past $111Russia-Ukraine crisis: live newsOil and gas prices soared on Wednesday while prices at UK petrol pumps hit a new high, as Russia’s escalating invasion of Ukraine continued to cause turmoil in the energy markets.The price of a barrel of Brent crude oil moved past $111 (£83), its highest level since early July 2014, despite a decision by the US to release, with its allies, about 60m barrels from their strategic reserves, in an attempt to stabilise global energy markets. Continue reading…
Barrel of Brent crude moves past $111, while petrol at UK forecourts hit 151.67p on Tuesday
Oil and gas prices soared on Wednesday while prices at UK petrol pumps hit a new high, as Russia’s escalating invasion of Ukraine continued to cause turmoil in the energy markets.
The price of a barrel of Brent crude oil moved past $111 (£83), its highest level since early July 2014, despite a decision by the US to release, with its allies, about 60m barrels from their strategic reserves, in an attempt to stabilise global energy markets.