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    Economics

    Global markets react to chaos in Russia: crude oil prices climb

    Global markets react to chaos in Russia: crude oil prices climb

    Following the attempted insurrection in Russia, the price of Brent crude oil surpassed $74 per barrel, marking an upward trend in benchmark oil prices. This increase comes after a decline in prices witnessed last week.

    Investor concerns about the situation in Russia contributed to a brief surge in quotations, with prices rising by 1.3%. The focus was on whether the Russian situation could have a detrimental impact on global oil supplies. However, the growth rate later stabilized, as reported by CNN.

    As of 8:09 Moscow time, August predictions for Brent crude oil on the London ICE Futures exchange recorded a price of $74.04 per barrel, indicating a $0.19 (0.3%) increase compared to the previous session's closing. On Friday, these contracts experienced a decline of $0.29 (0.4%), settling at $73.85 per barrel.

    Simultaneously, futures quotes for WTI oil for August on the New York Mercantile Exchange (NYMEX) witnessed a morning increase of $0.12 (0.2%), reaching $69.28 per barrel. During the previous session, they fell by $0.35 (0.5%), concluding at $69.16 per barrel.

    In a broader context, the price of Brent experienced a decline of 3.6% over the past week, while WTI saw a decline of 3.9%.

    27.06.2023, 09:20   Comments (0)   792
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