OIL PRICE: ABOVE $111
Vladimir Vinogradov
WOGNEWS.NET, Global Energy Market Climate Changes News. Новости мирового энергетического рынка, изменений климата.
Brent rose by as much as $8 and touched as high as $113.02 a barrel. WTI were up $7.24, or 7%, to $110.67 a barrel.
Top oil exporter Saudi Arabia may sharply hike prices of crude for Asia in April, trade sources said, with differentials for most grades hitting all-time highs as global supplies tighten over financing and shipping issues from sanctions on Russia.?
A coordinated release of 60 million barrels of oil by International Energy Agency member countries agreed on Tuesday put a lid on market gains, but analysts said that would only provide temporary relief on the supply front.
Against that backdrop, the Organization of the Petroleum Exporting Countries, Russia and allies, together known as OPEC+, are due to meet on Wednesday, where they are expected to stick to plans to add 400,000 barrels per day of supply each month.?