Global oil prices rise 5%

Global oil prices are rising by 5% on March 17 afternoon amid the continued foreign policy tensions that create risks of interruptions in supplies, primarily from Russia, Report informs.

The price of Brent has again overcome the mark of $100 per barrel.

The price of May futures for Brent crude increased by 5.37%, to $103.28 per barrel, April futures for WTI grew by 5.01%, to $99.8.

In light of this, the International Energy Agency (IEA) previously stated that supplies of 3 million barrels of Russian oil per day could be cut off from the world market starting next month.