War anxiety hiking world market oil prices

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Recent days’ rapid world market oil price advance is caused by the markets’ war anxiety, OPEC production cuts and the looming summer consumption uptick.So far, this has reflected in the price of gasoline in Estonia, while that of diesel is set to follow in the wake of a May excise duty hike.

On Wednesday, the price of Brent crude oil fluctuated around the $90 mark.Just a couple of weeks ago, in mid-March, the price per barrel was still at $82.

The price leap began with Ukrainian drone attacks on Russian refineries, explained Tarmo Kärsna, board member of motor fuels retailer Alexela.

Read more: ERR.EE