Global oil prices have risen more than 6%, surging to the highest prices since 2008 on Monday, as the US and European allies consider an import ban on a Russian oil. Meanwhile, fears of a global oil supply shortage are being further compounded by the delay of Iranian crude’s potential return to global markets, as the Kremlin demands a guarantee that sanctions will not harm its trade with Tehran. Russia is the No. 1 combined exporter of oil and crude products, accounting for some %7 of supply globally and exporting around 7 million barrels per day. Fuel prices have already […]
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