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Mexican Mix ​​Close To 120 Dollars & Hits Highest Level In 13 Years!

Since the start of the clashes in Europe, export crude oil has increased in price by 32%. The trend will continue to rise, analysts say.

The price of the Mexican export mixture closed this Tuesday at 119.62 dollars per barrel and reached its highest price since mid-July 2008, when international crude oil prices reached the highest levels recorded so far.The price of the Mexican mixture has increased steadily in recent days due to the conflict between Russia and Ukraine, in addition to the fear of the markets of a probable shortage of hydrocarbons in Europe.

Since last February 24, the day Russia began the invasion of Ukraine, the price of the Mexican mixture has increased by 32%, equivalent to 29 dollars per barrel.

The price of the main reference mixes also skyrocketed. Brent crude closed this Tuesday at 129.27 dollars per barrel and WTI – the main reference for Mexican crude – at 123.7 dollars per barrel.

This Tuesday, the increase in the international price of crude oil occurred after the United States announced a ban on imports of crude oil and hydrocarbons of Russian origin. This decision shook the markets, despite the fact that Russian oil imports represent only 10% of total US crude oil imports.

In a coordinated move, as part of joint Western pressure on Russia, Britain has also announced it will gradually stop buying Russian oil.

 

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