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April futures for benchmark Brent oil jumped above $102 a barrel this morning for the first time since September 2014.
So, by 7:38 Moscow time on the London ICE exchange, the price of oil soared to $102.07 per barrel, RBC reports.
The rally in the oil market was facilitated by statements by Russian President Vladimir Putin, who announced a Russian military special operation because of the Donbass. Investors are evaluating the possible impact of sanctions against Russia on the global oil market, PRIME notes.
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 leader, 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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