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Oil prices have reached new levels of rise as European Union leaders agreed on a plan to block more than two-thirds of Russian oil imports.
Brent crude rose above $ 123 a barrel on Tuesday, the highest in two months.
Oil and gas prices have risen in recent months, fueled by the war in Ukraine. Rising energy costs are putting pressure on consumers, making it more expensive to heat homes and keep cars. Already filling the car with 55 liters of diesel in England costs more than 100 pounds.
The war in Ukraine has pushed countries in the West to avoid Russian energy supplies. The ban agreed by EU leaders will provide for an immediate ban on Russian oil shipments to the bloc by sea. Two-thirds of Russian oil comes from the sea.
However, the deal, which followed weeks of squabbles, includes a temporary exemption for pipeline oil following opposition from Hungary.
Promises by Poland and Germany to ban pipeline oil imports by the end of this year will increase ban coverage to 90% of Russian imports.
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