London-Sana
Oil prices rose today, affected by Russia's announcement to stop exporting oil and gas to some buyers, and the market was affected by fears that China's extension of closure measures to prevent the outbreak of the Covid-19 virus would slow global economic activity and harm fuel demand.
According to Reuters, Brent crude futures rose 94 cents, or 1.1 percent, to $89.94 a barrel, after falling to $87.24 a barrel earlier, its lowest since January 25.
And US crude futures rose $1.36, or 1.7 percent, to $83.3 a barrel, after falling to $81.20 a barrel, its lowest level since January 12.
According to Reuters, the European Union's proposal to cap the price of Russian gas will increase the prospects of supply rationing in some of the world's richest countries this winter if Moscow already stops Russia's Gazprom company flows through the Nord Stream 1 pipeline.
The Chinese city of Chengdu extended isolation measures for the majority of its population of more than 21 million today to prevent the further spread of the Covid-19 virus, while the Chinese authorities asked millions of others in other regions of the country to avoid travel during the upcoming holidays.
Follow Sana's news on Telegram https://t.me/SyrianArabNewsAgency