{"id":1806,"date":"2022-02-23T10:03:59","date_gmt":"2022-02-23T10:03:59","guid":{"rendered":"https:\/\/www.newsmakers.com.pk\/en\/?p=1806"},"modified":"2022-02-23T10:10:58","modified_gmt":"2022-02-23T10:10:58","slug":"russia-ukraine-escalation-takes-oil-prices-to-100","status":"publish","type":"post","link":"https:\/\/www.newsmakers.com.pk\/en\/international\/russia-ukraine-escalation-takes-oil-prices-to-100\/1806\/","title":{"rendered":"Russia-Ukraine Escalation Takes Oil Prices To 100$&nbsp;"},"content":{"rendered":"\n<p>Web Desk &#8212; Today&#8217;s oil prices news is shocking as Russia-Ukraine tension gains mementum. The oil prices reached $100 per barrel on Tuesday, the highest since 2014 as the world&#8217;s biggest crude oil producer sent its troops into two breakaway regions in eastern Ukraine.<\/p>\n\n\n\n<p>The global benchmark, Brent crude oil climbed to $99.50 a barrel, the highest level since September 2014. Despite pulling back to just below $98, the stock gained about 2.4 percent versus late Monday. The WTI crude price on Wednesday was $93.86 per barrel.<\/p>\n\n\n\n<p>&#8220;The intensifying crisis between Russia and Ukraine has raised concerns about supply disruptions as sanctions hit Russia, the world&#8217;s second-largest oil exporter and the world&#8217;s top natural gas producer,&#8221; noted Victoria Scholar, head of investment at Interactive Investor.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.newsmakers.com.pk\/en\/business\/fbr-reduce-gst-on-petroleum-products\/1645\/\" target=\"_blank\" rel=\"noreferrer noopener\">FBR Reduce GST On Petroleum Products<\/a><\/p>\n\n\n\n<p>Talking about the oil prices forecast, ThinkMarkets analyst Fawad Razaqzada says it is clear that energy prices are unlikely to return to normal anytime soon, according to <\/p>\n\n\n\n<p>&#8220;Consumers&#8217; disposable incomes have already been squeezed by rising inflation, and if oil and other energy prices continue to rise, this could slow growth and raise the possibility of a recession,&#8221; he said. According to Julius Baer analyst Norbert Rucker, the oil market is experiencing frothiness and nervousness due to geopolitical fears and emotions. &#8220;According to the current mood, oil prices are likely to climb into triple digits in the near future,&#8221; he added.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.newsmakers.com.pk\/en\/business\/pta-mulls-restricting-mobile-operators-freewill-tariff-increases\/1435\/\" target=\"_blank\" rel=\"noreferrer noopener\">Mobile operators\u2019 freewill tariff increase to be restricted<\/a><\/p>\n\n\n\n<p>According to Bloomberg, &#8220;Forget the futures market, the world\u2019s most important oil price just smashed through $100 a barrel with every sign it is going to push higher.&#8221;<\/p>\n\n\n\n<p>&#8220;Dated Brent, the price of cargoes bought and sold in the North Sea, reached $100.80 a barrel on Wednesday for the first time since 2014, according to S&amp;P Global Platts, the company that publishes the marker. Price spreads in the futures market are pointing to one of the tightest markets ever,&#8221; Bloomberg further added.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.newsmakers.com.pk\/en\/business\/local-manufacturers-protest-over-irans-dairy-products-in-pakistan\/1794\/\" target=\"_blank\" rel=\"noreferrer noopener\">Local Manufacturers Protest Over Iran\u2019s Dairy Products in Pakistan<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Web Desk &#8212; Today&#8217;s oil prices news is shocking as Russia-Ukraine tension gains mementum. The oil prices reached $100 per barrel on Tuesday, the highest since 2014 as the world&#8217;s biggest crude oil producer sent its troops into two breakaway regions in eastern Ukraine. The global benchmark, Brent crude oil climbed to $99.50 a barrel, &hellip;<\/p>\n","protected":false},"author":4,"featured_media":1808,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1806","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-international"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Russia-Ukraine Escalation Takes Oil Prices To 100$<\/title>\n<meta name=\"description\" content=\"According to Julius Baer analyst Norbert Rucker, &quot;Oil prices are likely to climb into triple digits in the near future.&quot;\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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