Oil prices surge due to Ukraine strikes on refineries

CNBC April 4, 2024, 01:00 PM UTC

Oil prices have surged with U.S. crude up 19% and Brent up 16% in 2024. West Texas Intermediate is at $85.45, and Brent at $89.35. Ukraine's strikes on Russian refineries have impacted OPEC+ supply. Traders are cautious after a 2% increase this week. The market is at its highest since October amidst Eastern Europe and Middle East conflicts.


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