The severe energy crisis which emerged after Russian President Vladimir Putin’s decision to invade Ukraine is causing energy prices to soar. This couldn’t have come at a worse time for a global economy that is struggling to recover from a devastating pandemic and is now confronted by the threat of surging inflation.
A marked decrease in hydrocarbon supplies caused the international Brent oil price to surge by 42% since the start of 2022 to be selling for over $93 per barrel, while natural gas has gained a whopping 39% be $5.20 per million…Will Biden Lift Sanctions On Venezuelan Oil?
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