New 7-year highs hit oil prices on Friday, rising more than 3% as fears of a Russian invasion of Ukraine that could happen “day by day” intensified, the national security adviser said earlier. of the White House Jake Sullivan.
The market is very nervous as officials from Washington estimate that “the invasion can happen at any time,” remarked Andy Lipou, of Lipow Oil Associates.
The price rose sharply by about two dollars in less than half an hour, after Blinken made statements in Melbourne stating that it is Russian attack possible during the Winter Olympicsand announcements by White House National Security Adviser Jake Sullivan.
“Under these circumstances, the oil market does not want to be caught off guard over the weekend,” Lipou said, explaining that a Russian military operation would impose sanctions on Moscow and, in conjunction with the invasion itself, supply problems would be observed.
In this climate, the West Texas Intermediate March delivery added $ 3.22, or 3.6%, to settle at $ 93.10 a barrel on the New York Mercantile Exchange, the highest level since September 2014. The WTI traded up $ 94. $ 37 a barrel (+ 5%), while on a weekly basis increased by 0.9%, according to Dow Jones Market Data.
The Brent delivery April gained 3.3% or $ 3.03 to $ 94.44 a barrel, the highest level since September 2014. Intra-conference it gained 4.5%, to $ 95.52 a barrel, while in the week Brent scored increase of 1.3%.
Source: Capital
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