Oil futures climbed on Tuesday, buoyed by concerns over global supplies after Russia made a move into Ukraine. “The market has certainly already priced in some degree of Russian related oil and gas supply risk,” said Troy Vincent, senior market analyst at DTN. However, “the lack of response in prices emphasizes that the market is not taking the threat of Russian oil and natural gas flows being sanctioned or cut off by war seriously,” he said. “With energy price inflation already weighing on the global and European economy, severe sanctions on Russian oil and gas flows would prove mutually destructive for both Europe and Russia.” West Texas Intermediate crude for March delivery CLH22,
Source: Marketwatch
