Home » Oil + 3%, Brent over $ 110 with Russia-Ukraine and AIE alert on dependence on fossil fuels

Oil + 3%, Brent over $ 110 with Russia-Ukraine and AIE alert on dependence on fossil fuels

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Oil + 3%, Brent over $ 110 with Russia-Ukraine and AIE alert on dependence on fossil fuels

New boom in oil prices, which jumped by 3% in the negotiations of the Asian markets, paying for the lack of progress in the negotiations between Moscow and Kiev for the ceasefire and the alert of the IEA, the International Energy Agency which, last Friday , warned that Russia’s supply of oil and refined products could drop by three million barrels a day since April.

For this reason, the agency presented a plan containing 10 emergency measures to cut oil demand by 2.7 million barrels per day in four months.

“France and all European countries must put an end to their dependence on fossil fuels, especially Russian ones, as soon as possible – said Barbara Pompili, Minister for Ecological Transition of France, a country that currently holds the presidency of the European Union – It is an absolute necessity, for the climate but also for our energy sovereignty. The plan proposed by the IEA offers some interesting ideas, some of which are in line with our ideas, aimed at reducing our dependence on oil “. Crude oil prices are rising again, with Brent oil leaping more than 3% to $ 111.44 a barrel and WTI prices also climbing more than 3% to $ 108.31.

Today, according to what has been announced by the White House, a telephone conversation is expected between the American President Joe Biden, the French President Emmanuel Macron, the German Chancellor Olaf Scholz, the President of the Italian Council Mario Draghi and the British Prime Minister Boris Johnson for discuss “a coordinated response to Russia’s unjustified and unjustified attack on Ukraine”. The interview is expected at 4 pm Italian time.

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