Oil prices rise amid escalating Russian-Ukrainian crisis
Brent oil futures for delivery in April on Tuesday morning during trading rose to $ 97.32 per barrel,
Ukraine , Ukraingate , 22 , February , 2022 | Economy
According to Bloomberg as of 8:08, the price of futures for Brent oil rose by 2.02%.
At the same time, the price of March futures for WTI oil rose to $ 93.86 per barrel, adding 3.06%.
Details
Oil prices jumped more than $ 2 on Tuesday amid fears of supply disruptions amid escalating tensions between Russia and Ukraine after Moscow sent troops to ORDLO in eastern Ukraine, according to Reuters. This happened after the Kremlin recognized the so-called “L / DNR”.
Addition
OPEC +, an association of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, led by Russia, is gradually lifting record oil reductions agreed in 2020 to counter the drop in demand due to the pandemic.
According to current plans, the group will increase its production plan in February by 400,000 barrels per day, as has been done monthly since mid-2021.
Source: Ukrgate
