UK petrol hits fresh high of 151.67p as oil and gas prices soar

Russia’s invasion of Ukraine continues to create turmoil in energy marketsLatest 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…

Russia’s invasion of Ukraine continues to create turmoil in energy markets

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.

Continue reading…

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