Fuel prices have risen in the world market!
Fuel prices have risen in the world market!
Published: 05:47 17 January 2025
Fuel prices have risen again in the world market. The price increase has been caused by supply disruptions due to US sanctions on Russian energy trade. The news agency Reuters reported this information in a report on Friday.
According to the report, the price of Brent crude rose by 44 cents, or 0.50 percent, to $81.73 per barrel. On the other hand, the price of West Texas Intermediate crude rose by 62 cents, or 0.80 percent, to $79.30 per barrel.
This week, the price of Brent crude has risen by 2.50 percent and the price of West Texas Intermediate crude has risen by 3.60 percent.
Analysts said that cautious oil production in the Middle East to deal with the risk of global economic instability and forecasts of massive demand growth in the US market are the main reasons behind the price increase.
Fujitomi Securities analyst Toshitaka Tazawa said the crude oil market has risen as supply concerns stemming from US sanctions on Russian oil producers and tankers have increased. In addition, increased demand for kerosene in the US market has also had an impact.
Earlier, on January 10, the US and the UK announced sanctions on Russia's energy sector. This also included Russian oil company Gazprom Neft.
The announcement was made a few days before US President Joe Biden left the White House.
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