Oil Prices Stable at Highest Level in Two Months Due to Embargo on Russian Oil
Oil prices will remain stable at a very high level on Wednesday. The European embargo on Russian oil caused the highest oil prices in two months on Tuesday.
A barrel of oil of the North Sea type Brent – which determines the price at the pump with us – is quoted on Wednesday at $115.63.
That is $114.81 for a barrel of American WTI oil.
After weeks of deliberations, the countries of the European Union decided this week to ban Russian oil as a sanction for the invasion of Ukraine.