Around 7:00 p.m. GMT, the price of a barrel of Brent from the North Sea for delivery in April rose 4.50% to $95.52, its highest price since September 2014.
In New York, a barrel of West Texas Intermediate (WTI) for March delivery rose 5.00% to $94.37, also the highest in 7 years.
During a press conference on Friday, White House National Security Adviser Jake Sullivanwarned that an invasion of Ukraine could take place during the Beijing Olympics and asked Americans to leave that country in the next “24 to 48 hours.”
US Secretary of State warns that Russia may invade Ukraine during the Olympics. OO. of winter
For its part, the United Kingdom also advised its citizens in Ukraine on Friday to leave that country immediately for their safety.
The oil market is “very nervous because the secretary of state, Antony Blinken, said that an invasion could happen at any moment”, indicated Andy Lipow, of Lipow Oil Associates.
UK urges its citizens to ‘get out now’ from Ukraine
The oil price curve rebounded, taking almost two dollars per barrel in less than half an hour, after statements by the head of US diplomacy in Melbourne, Australia, followed by a press conference at the White House.
“Under these circumstances the oil market does not want to be surprised during the weekend and is concerned that an invasion by Russia could trigger sanctions that, added to the invasion, could lead to supply disruptions,” Lipow added. (I)
Source: Eluniverso
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