Oil prices rose more than a dollar in early trading on Monday, with renewed concerns about the Russian invasion of Ukraine, and the possibility of supply disruptions, following the statements of US Secretary of State Anthony Blinken.
In an interview with CNN on Sunday, Blinken confirmed that Russian President Vladimir Putin is deceiving the West when he denies his intentions to invade Ukraine, saying: “I think President Putin made the decision, but we will seize every opportunity and every minute until the tanks and planes move.” the Russian Federation to actually prevent it.”
Brent crude futures rose $1.34, or 1.4 percent, to $94.88 a barrel at 23:12 GMT, after recording $95.00 a barrel in early trading.
US West Texas Intermediate crude futures rose $1.68, or 1.8 percent, to $92.75 a barrel, after recording $92.93 a barrel.
“If a Russian invasion happens, as the US and UK have warned in recent days, Brent crude futures could rise above $100 a barrel,” Vivek Dar, an analyst at Commonwealth Bank, said in a note.