Oil prices were inflamed, today, Thursday, February 24, after the Russian army’s ground and air attack against Ukraine, propelling the price of a barrel of WTI to more than 100 dollars and that of Brent to more than 105 dollars during the session, for first time since 2014.
North Sea Brent barrel prices for April delivery rose 8.78% to $105.34 in the session, but moderated at the close with a 2.27% rise to $99.08. .
In New York, a barrel of West Texas Intermediate (WTI), due in April, rose 8.66% to $100.10 early, and ended up 0.77% at $92.81.
Russia launched a military invasion of Ukraine early Thursday with airstrikes, especially in Kiev, and ordered in ground forces from the north, east and south of the country.
Russia is one of the world’s leading producers of gas and oil, so this operation scares investors in terms of possible breaks in energy supply.
The reaction of the West and the United States, Joe Biden, with the imposition of new banking sanctions moderated the rise in price.
US President Joe Biden promised to use the strategic oil reserves in order to relieve Americans, concerned about a possible rise in fuel prices.
With information from AFP
Source: Larepublica
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