Oil prices have risen due to escalating tensions between Russia and Ukraine and concerns about potential supply disruptions.
Crude oil prices extended their gains today and were set to end the week higher after Russia shot a new kind of ballistic missile at Ukraine in the latest sign that the escalation there continues. The strike, featuring a hypersonic medium-range missile that has not been used before in warfare, came in response to a Ukrainian attack with U.S. and British ATACMS missiles on Russia n territory.
34 per barrel, with West Texas Intermediate at $70.23 per barrel, both up on Thursday, after booking a 2% rise on Thursday. The price rise could have been more substantial, perhaps, had it not been for the latest EIA weekly petroleum status report, which showed builds in both crude oil and fuels.
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