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Why Russian Invasion Peril Is Driving Oil Prices Near $100
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The threat of a Russian invasion of Ukraine is shaking up a fragile global oil market, pushing prices closer to $100 a barrel as traders calculate that supplies will struggle to cushion the effect from any significant disruption in Russian fossil fuel exports.
Demand for oil has outpaced production growth as economies slowly rebound from the worst of the pandemic, leaving the market with a small buffer to mitigate an oil-supply shock. Russia is the world’s third-largest oil producer, and if a conflict in Ukraine leads to a substantial decrease in the flow of Russian barrels to market, it would be perilous for the tight balance between supply and demand.
Read more on wsj.comAbout this in other media
Stock futures rise slightly amid surge in oil prices, ongoing conflict in Ukraine cnbc.com /2 years ago
Deloitte suspends Ukraine business to safeguard staff from Russian invasion fnlondon.com /2 years ago
Ukraine crypto donations pour in after Russian invasion economictimes.indiatimes.com /2 years ago
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