Oil Prices Get a 2% Boost Amid Geopolitical Drama

Oil prices took the bumpy road upwards today, proving once again that global crude markets lack stability. West Texas Intermediate (WTI) climbed to $70.17 per barrel, up a decent $1.42 (2.07%) from yesterday’s close, while Brent crude cruised to $74.29, up $1.48 (2.03%). Today’s culprit? The ever-escalating Russia-Ukraine conflict. Oil traders are once again pricing in potential supply disruptions after Russia flexed its military muscles with hypersonic missile strikes on Ukraine after the latter fired U.S. and British-provided missiles...