Meanwhile, investors are focused on the meeting of the OPEC group and allies, OPEC+, scheduled for Feb. The Spokesperson of the US Department of Defense, John Kirby, announced a Russian military buildup in regions close to the Ukrainian border and Belarus in the last 24 hours. The ongoing Russia-Ukraine crisis has also raised concerns of a compromise in Europe's gas supply in response to possible sanctions against Russia. Oil prices are on the rise, aided by the decision of major oil producers to continue their policy of limited output increases. International benchmark Brent crude was trading at $88.59 per barrel at 0700 GMT for a 0.48% increase after closing the previous session at $88.17 a barrel.Īmerican benchmark West Texas Intermediate (WTI) was at $87.17 per barrel at the same time for a 0.65% rise after trade in the previous session ended at $86.61 a barrel. Oil prices rose on Friday amid concerns of further oil supply declines due to geopolitical tensions arising from the crisis between Russia and Ukraine.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |