American sanctions have caused crude oil prices to increase
American passed economic sanctions on two big oil companies in Russia
This has caused the price of crude oil futures to increase by a lot
The American ministry of finance said that the reason is to stop Russian conflict with ukraine
And a Russian rosuneft company called rukuin could not make a deal with its american assets
After this news came out , new Yorks crude oil markets recorded that crude oil from Russia has reduced
Due to this the crude oil company called WTI has at 1 o'clock one barrel has become 62 dollers which is at least a 6% increase
Also, the American media has said that countries like China and India and other countries who also used to buy a lot of Russian crude oil will likely stop importing.
Due to this, the supply of crude oil has reduced. Also it is said that the price might also increase
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