Oil opens the mixed week with attention to escalation in conflict between Ukraine and Russia

The oil prices They operated this Monday in a close series that led to them constantly changing their trend, in full agitation over fears of limited supply in the Middle East and the possibility of an open conflict between Ukraine and Russia that Western allies can involve.

At 12:30 GMT, benchmark futures Brent They added just 0.09% to $ 87.97 a barrel, while US WTI crude futures were 0.05% lower at $ 85.11 a barrel.

Both contracts have been collecting a 10% profit since the beginning of the year.

“Oil prices benefit from supply risks and geopolitical tensions,” says Carsten Fritsch, analyst at Commerzbank.

“A further escalation of the conflict in Ukraine and the tense security situation in the Middle East justifies a risk premium on the oil price because the countries concerned, Russia and the United Arab Emirates, are important members of the OPEC +“, he declared.

This week, investors around the world are plunging into lower-risk assets, in a general sell-off in which they expect stricter financing conditions, as the Federal Reserve prepare to raise his interest rates in March.

Meanwhile, tensions in Ukraine have been rising for months after the Kremlin deployed troops near its borders, fueling fears of supply disruptions in Eastern Europe.

The Department of State The US has announced that it will order the relatives of its diplomats to leave Ukraine, in a further sign that the OTAN preparing for an eventual Russian attack.



Reference-www.eleconomista.com.mx

Leave a Comment