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Brent Oil Hits $81.11 Amid Russia Sanctions Crisis

1/13/2025

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Summary

Story summary

Brent crude oil prices skyrocketed to $81.11 per barrel, marking a four-month high, as new U.S. sanctions hit Russia's oil sector. Targeting key exporters and over 150 tankers, these sanctions threaten to disrupt the flow of 1.5 million barrels daily, pushing Asian buyers to scramble for alternatives from the Middle East and Africa.

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Story summary

Brent crude oil prices skyrocketed to $81.11 per barrel, marking a four-month high, as new U.S. sanctions hit Russia's oil sector. Targeting key exporters and over 150 tankers, these sanctions threaten to disrupt the flow of 1.5 million barrels daily, pushing Asian buyers to scramble for alternatives from the Middle East and Africa.