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It did not take long for fears that the escalation of the crisis between Russia and Ukraine could cause supply disruptions or disruptions to affect the price of oil and gas.
Their quote is rising today, the price of Brent crude oil, the international benchmark, reached $ 99.38 a barrel – the highest level in seven years.
The fluctuations came shortly after Russian President Vladimir Putin recognized the separatist regions of eastern Ukraine, Luhansk and Donetsk, as independent entities. Putin later ordered the deployment of Russian troops there. Several Western countries have threatened sanctions against Russia, which is the second largest oil exporter after Saudi Arabia. Russia is also the world’s leading producer of natural gas.
In London, the stock market opened with a 1.4 percent decline, although it managed to recover in the following hours. Asian stock markets also closed lower and a similar situation is expected in US stock markets. In March last year, the quotation of black gold in international markets began to fall sharply because the measures against the pandemic, also affected the demand for fuel.
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