(Finance) – The winds of war that are blowing stronger and stronger overwhelm the prices of crude oil. Among investors, fears of one are growing possible invasion of Ukraine by Russiawhich could result in severe sanctions against the top oil producing country.
The escalation of tensions makes the prices of oil on seven-year highs: futures on Brent stood at $ 95.49 a barrel, up 1.11%, while the West Texas Intermediate (WTI) jumped 1.14% to 94.25 dollars.
The United States, but also the block of 27 is preparing to help Kiev in the event of an invasion by Moscow. The German Chancellor Olaf Scholzwho will visit Kiev today and Moscow tomorrow, confirmed that the situation is critical” and threatened “immediate sanctions” on Russia in the event of an attack.
“Nobody should be surprised if Russia creates an accident to justify the military action it had always planned,” said the US Secretary of State Anthony Blinken who spoke of “imminent threats” and the possibility of Russia using a “pretext” to invade Ukraine.
A position also endorsed by the National Security Advisor to the White House, Jake Sullivan who reiterated “we are ready to continue the work of diplomacy, but we are also ready to respond in a united and decisive way with our allies” in the event of an attack by Moscow.