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Prices for “black gold” of reference grades rose sharply on Thursday morning amid increased geopolitical tensions and after Russian President Vladimir Putin announced a military special operation in the Donbass.
By 6:21 a.m. Moscow time, April futures for North Sea Brent oil blend rose 3.30% to $100.04 a barrel, hitting seven-year highs, April futures for West Texas WTI rose 3.34% to $95.18 per barrel, according to TASS.
Recall, on February 24, Russian President Vladimir Putin made an emergency appeal to the Russians and announced a special military operation in the Donbass. In his speech, he stated that “circumstances require decisive action from Russia” and stressed that “Russia will not allow Ukraine to have nuclear weapons.”
According to the Russian president, the plans of the Russian Federation “do not include the occupation of Ukrainian territories,” however, “the Russian Federation considers it important that all the peoples of Ukraine can exercise the right of self-determination.”
Reacting to the Kremlin’s decision, US President Joe Biden, in a special statement, called Russia’s attack on Ukraine unprovoked and unjustified and promised to hold it to account.
For his part, UN Secretary-General António Guterres urged Putin to “stop the soldiers” from attacking Ukraine and give peace a chance.
Source: Rosbalt

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