The highest level since 2022. Brent crude exceeds $119 per barrel

The price of a barrel Brent crude reached more than $119, the highest level since early 2022, which increases the severity of the economic consequences of the war in the Middle East.

Brent futures rose by 7.6% to reach $119.69, the highest level since the first days of the war in Ukraine in 2022, and oil prices have jumped since the war on Iran prompted the closure of the Strait of Hormuz.

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