Oil rises and natural gas surges 8% as Russia orders troops to Ukraine
Energy prices, notably natural gas and crude, climbed sharply, amid the threat of a full-scale invasion of Ukraine by Russia.
Against that backdrop, Brent oil
the international benchmark, was trading over 2% higher at $97.35 a barrel, after the April contract
finished 2% higher on Monday, marking the largest daily gain for a front-month contract since Feb. 14, according to Dow Jones Market Data.
West Texas Intermediate crude
for March delivery
was trading $2.38, or 2.6%, to reach around $92.60 a barrel, following a 0.8% slide on Friday, contributing to a 2.2% weekly loss ahead of its expiration at Tuesday’s settlement. Markets in the U.S. on Monday were closed in observance Presidents Day.
was trading over 8% higher, up 35 cents, at $4.78 per million British thermal units.
Russian President Vladimir Putin, in a speech on Monday, said that he recognized the independence of pro-Moscow separatist factions in Luhansk and Donetsk, Ukraine and was ordering troops into the breakaway regions as what he referred to as peacekeepers.
Tag:article_normal, Brent Crude Apr 2022, Brent Crude Oil Continuous Contract, BRN00, BRNJ22, C&E Exclusion Filter, CL.1, CL00, CLH22, commodity, Commodity Markets, Commodity/Financial Market News, Content Types, Crude Oil Continuous Contract, Crude Oil Mar 2022, Crude Oil WTI (NYM $/bbl) Front Month, Domestic Politics, Energy, Equity Markets, Executive Branch, Factiva Filters, financial market news, Fossil Fuels, general news, Government Bodies, international relations, Natural Gas Continuous Contract, NG00, political, Political/General News, politics, Politics/International Relations