Oil prices on the world stock market have risen to $ 110 a barrel, the highest level in more than seven years.
Oil prices have risen despite new measures aimed at calming markets disturbed by Russia’s Ukraine invasion.
Russia is one of the largest energy producers in the world.
Oil prices have risen even after members of the International Energy Agency agreed to release 60 million barrels of oil from emergency stockpiles.
The United States and 30 member countries of the International Energy Agency (IEA) have agreed to release oil in an effort to stabilize energy markets around the world.
As a result, the crisis over Russia’s invasion of Ukraine has raised concerns among investors that oil or gas supplies could be affected due to the war.
