Brent crude prices rise to two-week high

As tensions increase between Russia and Ukraine, crude oil prices rise to a two-week high of $108.35 per barrel on Monday.

Brent crude prices rise to two-week high

World Bulletin / News Desk

Crude oil prices rose to a two-week high of $108.35 per barrel on Monday, due to concerns over scarcity of oil supplies because of increasing tensions with Russia and Ukraine.

Brent crude oil prices were around $106.90-$107.85 on Friday and was $107.16 by the end of the day. On Monday, the prices rose to its highest level of $108.35 per barrel.

The price of U.S. West Texas crude oil rose to $104.55 a barrel, the highest since March 4. It is currently traded at around $104.29 a barrel.

Around 35 percent of EU's imports of crude oil come from Russia. A large portion of this oil comes via the Druzhba pipeline which passes through Ukraine. A potental disruption in this would have consequences for Europe. 

Last Mod: 14 Nisan 2014, 14:40
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