Brent Crude Tops $90 Per Barrel First Time Since 2014

© AFP 2023 / HUGO BERGSAKER"Brent Spar" oil platform
Brent Spar oil platform - Sputnik International, 1920, 26.01.2022
MOSCOW (Sputnik) - Global oil prices increased by almost 2 percent on Wednesday, and benchmark futures for Brent crude rose above $90 per barrel for the first time since 13 October 2014.
As of 15:53 GMT, the price of March futures for Brent crude grew by 1.88 percent to $89.86 per barrel. Minutes earlier, the price reached $90.02.
The price of April futures for Brent rose by 1.85 percent to $88.79, the price of March futures for WTI was up 1.96 percent to $87.28.
Oil prices are increasing amid growing tensions between Russia and NATO over the situation in Ukraine's east and fears that energy supplies from Russia to Europe may be disrupted should escalation continue.
Earlier this week, a tense geopolitical situation sent global stock markets down, with the S&P 500 losing 2.53 percent, NASDAQ retreating 2.89 percent, and the Dow Jones losing 2.09 percent.
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