The International Energy Agency (IEA) announced on Tuesday the release of 60 million barrels of oil from emergency reserves.to its member countries, to stabilize the market after the Russian invasion of Ukraine.
The decision, adopted by around thirty IEA countries, must “send a clear signal to world oil markets that there will be no shortage of supply due to the Russian invasion of Ukraine”wrote in a statement the entity, which represents the interests of the world’s largest energy consumers.
The price of a barrel Petroleum American WTI advances this Tuesday more than 10% and that of the barrel of Brent, European reference index for crude oil and Ancap, rose more than 9%. Following the start of the Russian invasion of Ukraine and Western sanctions against Moscow, Both indices reached record levels since 2014, with a value of US$106.29 for a barrel of WTI and US$107.44 for Brent.
AFP Source
