Oil jumps on new warnings over Ukraine-Russia conflict

Melbourne – Oil prices Amid tremors over a possible confrontation between Russia and Ukraine, it received more than $ 1 in early trade on Monday, making it clear that the United States and the European Union would face sanctions if Russia invades its neighbor.

Oil ‘war premium’ on Russia-Ukraine issue

The head of the European Commission Ursula von der Leyen said Russia Will be disconnected Access to international financial markets and access to key exports needed to modernize its economy in the event of an invasion of Ukraine were denied.

Oil prices rose more than $ 1 in early trade on Monday amid growing tremors over a potential conflict between Russia and Ukraine, making it clear that the United States and the European Union would face sanctions if Russia invaded its neighbor. (Getty Images | Istack)

Brent crude was up $ 1.34 or 1.4% at $ 94.88 at 2312 GMT in early trade.

US West Texas Intermediate (WTI) crude futures rose $ 1.68, or 1.8%, to $ 92.75 a barrel after rising to $ 92.93.

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“If the Russian invasion continues as the US and UK have warned in recent days, Brent futures could rise above $ 100 / ppl,” Commonwealth Bank analyst Vivek Thar said in a statement.

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