Barrel of Brent crude moves past $111, while price of petrol at UK forecourts has hit 151.67pLatest business updates: oil price blasts past $111Russia-Ukraine crisis: live newsOil and gas prices are soaring, with prices at UK petrol pumps hitting a new high as Russia’s escalating invasion of Ukraine continues to cause turmoil in the energy markets.The price of a barrel of Brent crude oil moved past $111 (£83) on Wednesday, 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 price of petrol at UK forecourts has hit 151.67p
Oil and gas prices are soaring, with prices at UK petrol pumps hitting a new high as Russia’s escalating invasion of Ukraine continues to cause turmoil in the energy markets.
The price of a barrel of Brent crude oil moved past $111 (£83) on Wednesday, 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.