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Crisis between Russia and Ukraine generates increase in oil prices
Posted On 09 Apr 2014
West Texas Intermediate petroleum (WTI), which is ready for delivery in May, increased $ 2.12 up yesterday to settle at $102.56 per barrel, its highest level in a month.
Market researchers believe that traders are concerned about a disruption in the supply of Russian gas to Europe through Ukraine, which would significantly increase the prices of oil and gas.
The alarms went off after pro-Russian protesters confiscated government buildings in the eastern city of Donetsk.
In addition, oil traders reacted to the report of the Energy Department, which targeted forecasts of a greater increase than the expected of the average price in 2014, which stood at $95.33 the barrel.