# Oil prices jump again as EU considers Russian oil ban | Reuters

> Oil prices jumped more than $3 on Monday, March 21, 2022, with Brent climbing above $111 a barrel. European Union nations were considering joining the United States in a Russian oil embargo, and a weekend attack on Saudi oil facilities added to the pressure.

- Date: 2022-03-21 · published 2022-03-21T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/8483-oil-prices-jump-again-as-eu-considers-russian-oil-ban-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A possible EU embargo on Russian crude and an attack on Saudi infrastructure tighten global supply, pushing crude and energy costs higher and feeding through to feed input and transport costs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2022-03-22 | 5 | +15.1% | 3.3 | March 21 jump of over $3 as the EU weighed a Russian oil embargo and a Saudi facility was attacked drove the rebound within the 5-day window (supply risk). |
| BRENT | 2022-03-23 | 5 | +21.9% | 3.8 | March 21 EU consideration of a Russian oil embargo plus the attack on Saudi oil facilities lifted Brent above $111, adding to the 5-day rally. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-03-02 | [Oil price rises again as buyers shun Russian crude](https://feedsoft.ai/events/9459-oil-price-rises-again-as-buyers-shun-russian-crude.md) | +21.0% | +3.3% |
| BRENT | 2022-03-20 | [Oil Surges On Growing Supply Fears as EU Considers Russian Ban - Bloomberg](https://feedsoft.ai/events/8485-oil-surges-on-growing-supply-fears-as-eu-considers-russian-ban-bloomberg.md) | +9.5% | +0.8% |
| BRENT | 2022-03-21 | [Crude jumps more than 7% as EU mulls Russian oil ban](https://feedsoft.ai/events/9149-crude-jumps-more-than-7-as-eu-mulls-russian-oil-ban.md) | +9.5% | +0.8% |
| BRENT | 2025-12-19 | [Oil prices climb as US blocks Venezuelan tankers, eyes on Russia-Ukraine talks \| Reuters](https://feedsoft.ai/events/21665-oil-prices-climb-as-us-blocks-venezuelan-tankers-eyes-on-russia-ukraine-talks.md) | +3.1% | +8.7% |
| BRENT | 2020-01-03 | [Oil prices jump after U.S. air strike kills top Iranian commander \| Reuters](https://feedsoft.ai/events/55265-oil-prices-jump-after-u-s-air-strike-kills-top-iranian-commander-reuters.md) | -1.0% | -13.0% |
| WTI | 2022-03-20 | [Oil Surges On Growing Supply Fears as EU Considers Russian Ban - Bloomberg](https://feedsoft.ai/events/8485-oil-surges-on-growing-supply-fears-as-eu-considers-russian-ban-bloomberg.md) | +10.3% | +3.4% |
| WTI | 2022-03-21 | [Crude jumps more than 7% as EU mulls Russian oil ban](https://feedsoft.ai/events/9149-crude-jumps-more-than-7-as-eu-mulls-russian-oil-ban.md) | +10.3% | +3.4% |
| WTI | 2025-12-19 | [Oil prices climb as US blocks Venezuelan tankers, eyes on Russia-Ukraine talks \| Reuters](https://feedsoft.ai/events/21665-oil-prices-climb-as-us-blocks-venezuelan-tankers-eyes-on-russia-ukraine-talks.md) | +0.8% | +7.3% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-climbs-pressure-ukraine-conflict-tight-market-2022-03-21/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.