Reported 5 days ago
Oil prices have increased slightly due to escalating tensions between Russia and Ukraine, following Russia's largest airstrike on Ukraine in nearly three months. Brent crude rose 0.8% to $71.59 a barrel and West Texas Intermediate crude increased 0.6% to $67.45. Despite these gains, concerns about weak fuel demand in China and predictions of a global oil surplus are dampening market enthusiasm. The U.S. government's decision to allow Ukraine to use American weapons for deeper strikes into Russia has further heightened geopolitical tensions.
Source: YAHOO