Next Article
Oil prices rise as Ukraine-Russia tensions escalate
Oil prices are climbing again after two weeks of drops, mostly because tensions between Russia and Ukraine just keep rising.
With peace talks stalled, markets are getting nervous—so risk premiums are up.
On Friday, Brent crude hit $67.63 a barrel and West Texas Intermediate reached $63.51.
What to expect next for oil prices
US crude stockpiles dropped by six million barrels this week—way more than expected—which points to strong demand and helped push prices higher.
Now, all eyes are on the upcoming Jackson Hole economic conference, where talk of a possible Federal Reserve rate cut could shape what happens next for oil demand.