MAR 08. No one wants ‘annihilation’
USA banned Russian crude oil out of the world market today. Brent oil futures have surged 3.89%, ending at $128 per barrel. Russian crude oil takes about 10% of the oil market share, exporting about 7~8 million barrels per day. No Russian oil means a lot to the world. Without Russian oils, crude oil prices could go up to $200 per barrel in a week.