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Oil prices surge due to Ukraine strikes on refineries

CNBC — April 4, 2024, 01:00 PM UTC

Summary: 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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Timeline:

  1. [6.6]
    Oil prices rise due to geopolitical tensions and supply concerns (CNBC)
    155d 21h

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  2. [6.2]
    Oil prices spike, stocks drop amid Middle East tensions (Financial Times)
    156d 1h

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  3. [4.3]
    Crude oil futures rose after OPEC+ meeting on 2024-04-03 (CNBC)
    157d 10h
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  4. [6.6]
    Oil prices surged due to geopolitical tensions and supply concerns (CNBC)
    158d 10h

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  5. [6.6]
    Oil prices rise on demand, Middle East tensions, hitting $87.79 (CNBC)
    158d 18h

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  6. [5.3]
    Oil prices dip slightly, OPEC+ extends cuts, supply impacted (CNBC)
    159d 20h

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  7. [5.8]
    Brent crude prices fluctuated in FY24 due to OPEC+ actions (Mint)
    161d 7h

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