Oil prices rose sharply

Oil quotes are growing on geopolitical news. By 8.15 am Moscow time, a barrel of Brent oil has risen in price by 1.42 cents or 1.49% to 96.81 cents. The price of a WTI crude barrel rose $2.79, or 3.06%, to $93.86. On the eve, the Brent oil rose in price by 2%. Trades closed at $95.39. There was no WTI trading on Monday, as it was a holiday in the United States. On Monday, the President of the Russian Federation announced the recognition of the sovereignty of the two republics of Donbass. Investors fear that increased geopolitical tensions could lead to interruptions in the supply of Russian oil to the market. According to experts, if this happens, then oil quotes may rise above the $100 level. Market participants also assess the course of the negotiation process between the United States and Iran. Reaching an agreement will increase the supply on the market by a million barrels per day. Investors also drew attention to the message of the Saudi company Saudi Aramco. It talks about the presence of signs that indicate an increase in demand.


About author

Arseny Kudrin

Publicist, trader

Read previous post
← GDP of OECD countries grew by 1.2% in Q4
Read next post
VTB net profit grew 4.3 times in 2021 →
Get the best solution for your forex company. Please, submit the form below and we will get back to you within 24 – 48 hours.