Oil prices skyrocket after the US and China tried to lower them

Brent and WTI rose more than a percent after the US attempted to stop them

Immediately after US President Joe Biden announced the sale of oil from strategic reserves and the support of these actions from the UK, South Korea, Japan, China and India, the cost of raw materials skyrocketed. This is evidenced by the data of the ICE exchange.

As of 17:05 Moscow time, the Brent grade stopped at $ 80.9 per barrel (plus 1.52 percent by the beginning of the trading session), and the WTI grade – up to $ 77.65 (plus 1.2 percent).