Tokyo. Oil prices jumped more than $10 a barrel amid rising demand for tighter sanctions against Russia and the stock market fell sharply on Monday. Brent crude rose briefly from $10 to around $130 a barrel in the early hours of Monday.
For this, the deepening of the conflict in Ukraine is being attributed to the growing call for tougher sanctions against Russia. Meanwhile, Libya’s National Oil Company said an armed group had closed two important oil fields, prompting oil prices to rise.
Significantly, as the Russian army intensifies shelling in Ukraine, the President of the war-torn country Volodymyr Zelensky has urged Western countries to tighten sanctions against Russia.