Oil prices rise sharply after Russia's attack on Ukraine - Reuters
Illustrative photo: global oil prices surge sharply (Getty Images)
Oil prices have risen by more than 2% globally. This is likely linked to Russia's large-scale missile strike on Ukrainian territory, Reuters reports.
According to the agency, the increase in oil prices is driven by concerns over further escalation of the war. It reminded that yesterday Ukraine struck a Russian command post. In response, Russia launched an intercontinental ballistic missile at Ukrainian territory.
Specifically, Brent crude oil futures rose by $1.48, or 2.03%, to $74.29 per barrel. At the same time, US West Texas Intermediate oil futures increased by $1.53, or 2.23%, to $70.28 per barrel.
"For oil, the risk is if Ukraine targets Russian energy infrastructure, while the other risk is uncertainty over how Russia responds to these attacks," analysts from financial group ING stated.
New missile strike
On the morning of Thursday, November 21, the Russian Federation launched another missile strike on Ukraine. According to the Air Force of the Armed Forces of Ukraine, Russia fired an intercontinental ballistic missile for the first time from the Astrakhan region.
Later, President Volodymyr Zelenskyy confirmed the launch of the new intercontinental ballistic missile against Ukraine. He stated that expert analyses are ongoing.
For more details on what is known about the Russian RS-26 Rubezh missile, read the material by RBC-Ukraine.
