Oil prices have risen due to US sanctions on Russian oil, with WTI reaching its highest level in five months.

[Khans County=AP/Newsis] As the United States imposed sanctions on the Russian oil industry, international oil prices hit a five-month high. The photo shows a sunset behind a pump jack that has stopped drilling near Kansas City, Kansas County, Texas, on April 8, 2020. [Seoul=Newsis] Reporter Kim Yejin: As the United States imposed sanctions on the Russian oil industry, international oil prices hit a five-month high. On the 13th (local time), according to Market Watch, the Western Texas Intermediate (WTI) crude oil for February delivery rose $2.25 (2.9%) to $78.82 per barrel at the New York Mercantile Exchange. This was the highest since August 12 of the previous year. The global benchmark Brent crude for March delivery rose $1.25 (1.6%) to $81.01 per barrel, marking the highest since August 26 of last year. Previously, on the 10th, the U.S. Department of the Treasury announced sanctions against Russian oil companies Gazprom Neft and Surgutneftegaz. It also announced sanctions on 183 ships, mostly belonging to the so-called ‘shadow fleet’ involved in sanction evasion, smuggling, and illegal maritime activities. These U.S sanctions aim to restrict Russia’s access to the global energy market and reduce its oil and gas export revenues. According to Bloomberg News, Morgan Stanley analysts including Martin Ratts stated that “the new U.S. sanctions on the Russian oil industry are stronger than expected,” predicting that it would take some time for the market to absorb the measures. “There will at least be downside risks to oil supply for a certain period,” they projected. The news agency noted that while the impact of these U.S. sanctions is still uncertain, signs of initial confusion are evident.