Business ,
Feb 11, 21:55
0
Brent futures are above $95 for the first time since the fall of 2014
The price of a barrel exceeded $95, the highest since the fall of 2014. Oil rises amid increasing geopolitical tensions, including around Ukraine
Photo: Richard Drew / AP
In late trading on Friday, February 11, Brent oil futures for April 2022 delivery traded above $95, gaining more than 4%. This is the highest rate since October 2014.
Oil prices have been rising over the past few weeks on the back of a shortage of supply and a recovery in demand. Rising prices for raw materials contribute to geopolitical tensions in Eastern Europe and the Middle East.
The price of Urals oil for the first time in seven years exceeded $93 per barrel
Oil, the dollar and the euro are also rising on Friday evening amid reports of Russia’s impending invasion of Ukraine. USA thinkthat Russian President Vladimir Putin has already decided on the attack and notified the military about it, PBS correspondent Nick Shifrin said on Friday, citing sources. According to the journalist’s interlocutors, the invasion could begin as early as next week.
JPMorgan analysts predicted that in the event of hostilities, Russian oil exports would halve due to growing tensions around Ukraine, the price of Brent could reach $150 per barrel.