Oil prices on Tokyo Commodity Exchange reach record high since July 2008

The price of oil futures on the Tokyo Commodity Exchange has reached a maximum in almost 14 years, Report informs referring to Kyodo News.

On June 6 morning, the price of Middle East oil on the Tokyo Commodity Exchange reached 86,000 yen ($657.8) per kiloliter, the highest since July 2008.

High energy prices are putting serious pressure on the energy supply system. On June 6 morning, Japanese government secretary-general Hirokazu Matsuno said that a government meeting on the issue would be convened in the coming days. This will be the first Cabinet meeting on this topic in five years.