Heating up: Lights illuminate a gas drilling rig on the Gazprom PJSC Chayandinskoye oil, gas and condensate field in Russia. Sokol oil, a diesel-rich grade from the country’s east, is trading at the strongest in 21 months. ―Bloomberg
LONDON: The global energy crisis is bleeding into the oil market.
Brent crude surged as high as US$85.10 (RM353.85) a barrel on Friday, a price that would have seemed unthinkable just 18 months ago, when Covid halted global mobility and trashed demand.
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