Oil prices are sharply higher on enhanced sanctions
Unsurprisingly, the sharp escalations in sanctions over the weekend, which sparked panic among ordinary Russians, has seen oil open sharply higher today. Brent crude has soared 3.50% to USD 101.85 a barrel, and WTI has rocketed 4.55% higher to USD 96.10 a barrel.
Oil prices are, in fact, slightly off initial highs, potentially on hopes from the Ukraine-Russia meeting, with similar price action seen in equity and currency markets.
28-02-2022 04:25 GMT
by Jeffrey Halley