Oil prices are rising and heading towards their highest level in seven years

Brent crude futures contracts $95.73 a barrel by 0109 GMT, an increase of $1.29, or 1.4 percent, after it had earlier recorded its highest intraday level at $95.91.

وارتفع West Texas Intermediate crude oil $1.49, or 1.6 percent, to $94.59 a barrel, hovering near the session’s highest level at $94.92.

Statements from the United States about an imminent attack by Russia on Ukraine to shake global financial markets.

The United States said yesterday that Russia could invade Ukraine at any time and could create a sudden pretext for an attack.

Edward Moya, market analyst at Oanda, said in a note "If… there is a movement of forces… Brent crude will rise above $100 (per barrel) with ease".

و .ضاف "will remain oil prices Very volatile and prone to increasing developments regarding the situation in Ukraine".

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وبلغت Brent crude futures contracts $95.73 a barrel by 0109 GMT, an increase of $1.29, or 1.4 percent, after it had earlier recorded its highest intraday level at $95.91.

وارتفع West Texas Intermediate crude oil $1.49, or 1.6 percent, to $94.59 a barrel, hovering near the session’s highest level at $94.92.

Statements from the United States about an imminent attack by Russia on Ukraine to shake global financial markets.

The United States said yesterday that Russia could invade Ukraine at any time and could create a sudden pretext for an attack.

“If … there is a movement of forces … then Brent crude will easily rise above $100 (a barrel),” Edward Moya, market analyst at Oanda, said in a note.“.

He added, “It will remain oil prices Very volatile and prone to increasing developments regarding the situation in Ukraine“.

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