HomeMarketsBrent crude breaks the $102 price mark
By Economy Middle East
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February 24, 2022 9:27 am

Brent crude breaks the $102 price mark

The surge in prices was after Russia launched an attack on Ukraine
oil prices
Crude oil

Crude oil prices rose more than 5%, in trading on Thursday, and broke the $100 per barrel barrier for the first time since 2014.

The surge in prices came as political tensions increased, after Russia launched an attack on Ukraine, exacerbating fears that a war in Europe could disrupt global energy supplies.

Oil prices today

 

By 06:33 am GMT, the prices of West Texas Intermediate (WTI) crude futures – April delivery – rose by 5.29 percent, to reach $96.97 a barrel, after rising earlier today to $97.40, the highest level since August 2014.

Meanwhile, Brent crude futures prices – for delivery in April 2022 – rose about 5.53%, recording $102.20 a barrel, after hitting earlier its highest level at $102.48 a barrel, the highest since September 2014.