Home World London’s Brent crude futures break above $100 a barrel for the first time in more than seven years – Xinhua English.news.cn

London’s Brent crude futures break above $100 a barrel for the first time in more than seven years – Xinhua English.news.cn

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Brent crude futures in London topped $100 a barrel for the first time in more than seven years

Xinhua News Agency, London, February 24. Affected by the sudden tension in the Ukraine situation, the price of Brent crude oil futures in London exceeded $100 a barrel in intraday trading on the 24th, the first time that it exceeded 100 in more than seven years.

Russian President Vladimir Putin said in a televised speech early on the 24th that he had decided to launch a special military operation in the Donbas region. Putin said in his speech that Russia has no plans to occupy Ukraine.

London Brent crude futures for April delivery rose to as high as $100.04 a barrel at one point after Putin’s speech, while light sweet crude futures for April delivery on the New York Mercantile Exchange rose to $95.54 a barrel.

On the 23rd, London Brent crude oil futures for April delivery settled at $96.84 a barrel. The last time Brent crude futures in London traded above $100 a barrel was in September 2014.

Market analysts believe that the outside world is worried about the outbreak of conflict between Russia and Ukraine and the impact on global energy supply, which stimulated the surge in crude oil prices.

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