Crude prices continue to record gains at the beginning of the week today, Monday, the seventh of March, as Brent and US crude tested their highest levels since 2008 at the opening, as US crude opened at levels of 130.50 dollars a barrel, before retreating and reducing its gains, and it is now trading at levels of 124.30 dollars a barrel, rising by about 7.45 Today, Monday, Brent crude tested levels of 139.13 dollars, and is now trading at 127.58 dollars per barrel, up by about 8%.

Strong crude rises return in the opening session of the week today, amid expectations that the United States of America will impose a ban on imports of Russian oil and gas, as we followed the statements of US Secretary of State Anthony Blinken yesterday, Sunday, in which he indicated that the White House is conducting dialogues with its European allies about an embargo that puts pressure on the Russian President.

In a related context, fears rose in the markets that the US sanctions imposed on Russia might set back the Iranian nuclear agreement talks in Vienna months back, especially after Russia announced its demand to provide written US guarantees that sanctions on Moscow would not harm cooperation between Russia and Iran.