Oil rises in price amid geopolitical tensions

Global oil prices rose by more than 1% against the backdrop of geopolitical tensions between Ukraine and the Russian Federation, Report informs.

The price of April futures for Brent crude rose by 1.14% to $95.51 per barrel. March WTI futures rose in price 1.41% to $94.39 per barrel.

Growth in prices is driven up by geopolitical tensions. According to the Wall Street Journal, Brent oil can easily rise above $100 per barrel.

The news on nuclear talks with Iran is slightly holding back the growth of prices. According to media reports, the Vienna talks on the resumption of the Joint Comprehensive Plan of Action (JCPOA) on the nuclear deal with Iran are nearing completion, the participants are discussing remaining issues.