New claim for oil: Fuel prices will climb
While the developments on oil and fuel prices are being closely followed, US Deputy Treasury Secretary made a remarkable statement. He said Washington was worried that oil prices would climb as access to the most Russian oil decreased.
Following Russia’s invasion of Ukraine, oil prices reached record highs; that is nearly 14-year high of $139. Later, the two countries sitting at the negotiating table decreased the fire of the markets to some extent and pulled prices to the 100 dollar band. While citizens are worried about likely high price increases, a new statement about oil created concern in markets.
“OIL PRICES WILL CLIMB”
US Deputy Treasury Secretary said that Washington was worried that oil prices would climb as access to Russian oil decreased from December 5.
In order to reduce Russia’s energy export revenues, the United States had banned the import of fossil fuels from the country and allowed energy trading to continue with some organizations until December 5 as an exception to the practice. Making a statement to journalists in New Delhi, India today, the Secretary said that they were holding effective talks with Indian officials and private sector participants on imposing an import ceiling price on Russian crude oil.
