Midday Crude Oil Analysis: Sanctions on Russian oil and conflicts in the Middle East, has the oil price breaking $80 per barrel just begun?

After the Biden administration announced strengthened sanctions on Russia's Energy exports, Brent Crude Oil Product Futures surged significantly during the early trading session in Asia, with prices exceeding 80 dollars per barrel.

Golden10 Data13:15

WTI Trades Around $77.00, Reaches Three-month Highs Following US Sanctions on Russian Oil

FXStreet12:36

Bullish Brent Bets at May High Even Before Sanctions on Russia

Yahoo Finance12:22

The USA has implemented the "harshest" sanctions against Russia! Russia claims it will respond, and both oils opened higher with a gap.

This could be the key support for the strengthening of oil prices! Speculators have even already Hold long positions waiting for an increase...

Golden10 Data10:05

Oil Prices Extend Rally Over Fresh US Sanctions on Russian Exports

Investing09:48

The USA has implemented the "strictest measures" against Russia, and oil prices have reached a four-month high.

After increasing nearly 4% in the previous Trade, the Global benchmark Brent Crude Oil Product price rose to over $81 per barrel. The West Texas Intermediate Crude Oil Product price is close to $78.

Zhitong Finance09:45