The price of oils is on the increase for the past few days thereby reaching a new all-time high for the first time in a decade.
The US. WTI saw a new high of $111.50, which was the highest since 2013, while North Sea Brent crude reaches $113.02, which is also the highest since 2014.
Although both prices fell short a little during the session the price was still on a 5% increase.
Natural gas and aluminum also see a new all-time high as well. This was however as a result of the current upheaval ongoing in Ukraine perpetrated by Russia. This has, however, lead to concern over fears of disruption to energy and commodities supplies.
Russia is the world’s third-largest aluminum producer best by China and India only according to the statistic revealed by the world bureau of metal statistics and their market points are Turkey, Japan, China, The United States, and European Union.
Russia’s invasion of Ukraine occurs when there is an increase in the price of energy and commodities shortly after the lifting of the covid-19 restriction in some countries.
