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The Russian-Ukrainian conflict has escalated! International oil prices rose more than 7% at one point, rising above $100 again

 Last Update: 2023-03-08
 Source: Internet
 Author: User

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As Western countries imposed more sanctions on Russia, energy and commodity markets were thrown into chaos and oil prices soared
again.

In early Asian trading, U.
S.
West Texas Intermediate (WTI) crude futures and Brent crude futures both rose more than 7%, rising above $
100 a barrel again.

The United States and its European allies agreed over the weekend to exclude some Russian banks from the SWIFT system and target the central
bank's international reserves.
The company (BP) also sold nearly 20% of its stake in the company (Rosneft) and suffered a whopping $25 billion in financial blows
.

Commodity and financial markets are bracing for further turmoil
from the Russia-Ukraine conflict and the growing consequences of Western sanctions.
WTI and Brent both topped $100 a barrel last week, but both retreated
after the United States reiterated its decision not to sanction Russian energy exports.

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