Ukraine: Brent returns above 120 dollars a barrel

The barrel of Brent oil, the benchmark for black gold in Europe, has gone back above the 120 dollar mark, galvanized by the war in Ukraine and the prospect of new Western sanctions against Russia.

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Around 2:40 p.m. in Paris, North Sea Brent rose 4.55% to $120.73 a barrel, and US WTI gained 4.52% to $114.21 a barrel. Brent had unscrewed in recent days from its peak reached during the crisis in Ukraine, even briefly trading below 100 dollars a week ago.

More details to come.

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