Global Oil Prices Surge: US Sanctions Push Brent Crude Above $81

Brent crude futures have risen above $81 per barrel, reaching a four-month high, after the U.S. imposed comprehensive sanctions on Russia's oil sector. These measures target major Russian oil producers, including Gazprom Neft and Surgutneftegas, as well as 183 vessels involved in oil transportation. The sanctions aim to curtail Russia's energy revenues, potentially disrupting global oil supplies and prompting refiners in China and India to seek alternative sources, which could lead to increased prices and transportation costs. 

 

Source: Reuters