The North Sea crude oil benchmark for Europe concluded the session on the International Exchange trading platform at 66.55 dollars, marking an increase of 43 cents from its closing value on Wednesday.
Rising concerns over oil availability and the geopolitical climate in Ukraine, following last night’s Russian missile attacks on Kyiv, have driven the price of crude upwards today.
Meanwhile, European Commission President Ursula Von der Leyen announced at an energy summit in London that she intends to present a timeline within the next two weeks for ending the importation of Russian fossil fuels by 2027.
Market analyst Razan Hilal from Forex noted today that global markets are moving with “caution” amidst ongoing uncertainties from the trade war initiated by Donald Trump and negotiations between the United States and Iran regarding the latter’s nuclear program.
