Iraqi oil soars above $80 a barrel
Iraqi oil soars above $80 a barrel
2025-01-15
Iraqi crude oil prices recorded more than $80 per barrel Tuesday (January 14, 2025), boosted by expectations of US sanctions on Russia.
According to data, “Brent crude oil recorded $80 per barrel for the first time since October, driven by concerns about imposing new sanctions on Russia.”
According to the data, Basra Heavy crude recorded 77.33 cents per barrel, while Basra Light crude recorded 80.55 cents per barrel, in recent trading today.
Meanwhile, Reuters quoted a senior official in the administration of US President Joe Biden as expecting that the new sanctions would cost Russia billions of dollars per month.
He explained that “the United States of America imposed sanctions on more than 180 oil tankers, many of which are part of the Russian shadow fleet.”
According to the data, sharp declines were recorded on Wall Street after strong US jobs data, with Trump approaching the White House.
burathanews.com
