Crude Price Impacted By Russia Ukraine War | Price Crosses 100 USD/Barrel | Crude News
March 16, 2022
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2:05Now PlayingCrude Price Impacted By Russia Ukraine War | Price Crosses 100 USD/Barrel | Crude News
YouTube Description
as posted by the channelAs Russia constantly invades the Ukrainian boundary, the impact is on one of the most important trade commodities, Crude. Brent crude has shot up to 101.4 USD per barrel. Half a US dollar increase since yesterday. The prices were fluctuating between 98-100 USD. But recently there has been a 27% decline.
The decline is contributed to the ongoing negotiation and positive development in the talks between Ukraine and Russia. The US and China's substantial discussion as well as China's fresh curbs on the spread of COVID-19 are contributing factors. These factors pushed prices up previously, due to the fear of disruption in demand. But now they are coming down from that high.
Russia and China are two of the most powerful countries, politically or economically. So, any change in their functioning and activities has an impact on global factors like crude prices; international trade and foreign relations.
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