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NJ Spotlight News

Business Report: Oil prices surge

Clip: 03/01/2022 | 2m 59s

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Russia’s invasion of Ukraine sent oil prices surging above $100 a barrel in the U.S. Tuesday, a seven-year high. To try to keep prices in check, a global consortium agreed to release oil from global reserves. The head of the International Energy Agency described the situation in the energy markets as very serious, adding global energy security is under threat, putting the world economy at risk.

Aired: 03/01/22 | Rating: NR

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