Oil prices EXPLODE past $100 as Russia invades – Britons faces crippling price hikes | City & Business | Finance
In a statement the Japanese Ministry of Economy, Trade and Industry said: “The stabilisation of the crude oil market is extremely important for the stability of the world economy and the Japanese economy.”
Both countries promised to work with the International Energy Agency (IEA) to help maintain stability.
Australian energy minister Angus Taylor said: “While we cannot control these international price spikes, we are closely monitoring the situation with the IEA and the United States and stand ready to take action to help alleviate these pressures.”
Fears over energy were already pushed higher after Germany announced it would halt approval for the controversial Nord Stream 2 pipeline connecting Russia to Europe.
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