known the news, Benchmark May Brent crude futures were up 8% at $132.62 a barrel.
While US West Texas Intermediate (WTI) crude futures for April delivery they jumped 7.7% to $125.56 a barrel.
On the other hand, the British oil company Shell said on Tuesday that it plans to withdraw from Russian oil and gas and stop all spot purchases of Russian crude as an immediate first step.
Oil prices could rise above $300 a barrel if the United States and the European Union ban oil imports from Russia, Deputy Prime Minister Alexander Novak said on Monday.
Fears that Russia will respond to already imposed sanctions by halting energy exports pushed prices higher.
Goldman Sachs raised its 2022 Brent price forecast to $135 a barrel from $98, and its 2023 outlook to $115 a barrel from $105, calculating that the global economy could face the “biggest energy supply crisis ever.” of history”, given the key role of Russia.
The apparent slowdown in talks with Iran over its nuclear program, which would end sanctions against its oil sales, added further support to prices. The European Union’s envoy to the talks said it was up to Iran and the United States to make political decisions to reach an agreement.
Iranian oil could take months to flow after a nuclear deal.
Oil supply disruptions come as inventories continue to fall around the world. Five analysts polled by Reuters estimated on average that US crude stockpiles fell by about 800,000 barrels in the week to March 4. (Additional reporting by Sonali Paul and Mohi Narayan in New Delhi Edited in Spanish by Javier López de Lérida)
Source: Ambito
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