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Oil climbs on growing fears of conflict over Ukraine

Oil climbs on growing fears of conflict over Ukraine
# 22 February 2022 06:58 (UTC +04:00)

Oil prices jumped more than $2 to a fresh seven-year high on Tuesday after Moscow ordered troops into two breakaway regions in eastern Ukraine, escalating a crisis that western leaders have warned could spark a war, APA reports quoting Reuters.

Brent crude futures rose $2.10, or 2.2%, to $97.49 a barrel at 0132 GMT, adding to a 2% gain on Monday. Earlier on Tuesday it hit $97.66, its highest since Sept. 2014.

U.S. West Texas Intermediate (WTI) crude futures jumped $3.25, or 3.6%, to $94.32 a barrel versus Friday's settlement. The U.S. market was closed on Monday for a public holiday.

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