Oil Prices Expected to Jump on Conflict in Russia
Oil traders and analysts are bracing for higher energy prices on Monday.
“Internal turmoil is a risk for supply to global markets, if it turns out to be a proper civil war it would of course hamper oil supply,” said Bjarne Schieldrop, chief commodities analyst at Nordic bank SEB.
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Oil traders said they planned to increase bets on the price of oil going up. The most actively traded contact for global crude benchmark Brent settled at $74.01 a barrel on Friday after a volatile week of price swings.
