Oil rose to a record $139 per barrel

On Monday, Brent crude briefly rose to its highest level since 2008, reaching almost $140 per barrel. During the day, the price dropped to the level of $125.50 per barrel. North American WTI oil rose to $130 for the first time since September 2008, subsequently declining to $122.90.

The jump occurred after reports appeared about the possible introduction of a US ban on its import from Russia. As it became known, the United States, together with its allies in Europe, are actively discussing the possibility of refusing to import Russian oil. It is noted that the United States is ready to go to the embargo without the participation of European allies. However, an exact decision on this issue has not yet been made. 

The Speaker of the lower house of Representatives of the US Congress, Nancy Pelosi, is currently studying the possibility of developing a bill to ban the import of Russian oil. It is worth noting that Russia accounts for about 3% of oil imports to the United States.

Analysts note that Brent may reach $185 per barrel by the end of the year if supply disruptions from Russia persist.