RateCaptain
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us
No Result
View All Result
RateCaptain
No Result
View All Result
Home Politics

Russian and Ukraine tension pushes oil to it’s highest levels since 2014

Rate Captain by Rate Captain
February 22, 2022
in Politics, Power
Reading Time: 1 min read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

Today, oil touched its highest level since 2014 as tensions between Russia and Ukraine rose after Moscow sent soldiers into two separatist regions in eastern Ukraine, adding to supply concerns that have pushed prices over $100 a barrel.

Following Russian President Vladimir Putin’s deployment of soldiers to separatist strongholds Donetsk and Luhansk in Ukraine, Brent crude prices hit $96.7 per barrel on Tuesday, the highest level since September 2014. Brent crude prices were $96.24 a barrel at the time of writing this article.

AlsoRead

CBN governor respond to APC 100M president form

The World’s First Crypto War

Federal Government approves Abba Kyari’s Repatriation to US

While the West has condemned it as a flagrant breach of international law, rising global tensions and the danger of invasion in Ukraine have prompted oil prices to rise and world markets to tumble.

Why the surge in crude oil 

Fears of supply-side interruptions have fueled the rise, as the possibility of a Russian invasion in Ukraine looms large after Putin’s deployment of soldiers to separatist territories Donetsk and Luhansk.

A Russian invasion of Ukraine might not only impair global crude supply, but also result in US and European sanctions. Following tensions between Russia, the world’s second-largest oil exporter, and Ukraine, oil prices have risen in recent months due to supply fears.

What you should know

The organisation of Petroleum Exporting Countries and its Russia-led partners have approved for Nigeria to increase its oil production quota to 1.72 million bpd up from its previous target of 1.70 million bpd in February and 1.68 million bpd in January.

Nigeria missed its crude oil output target for January 2022, pumping 1.46 million barrels per day against a target of 1.683 million BPD as approved by the Organisation of Petroleum Exporting Countries.

Previous Post

Nigeria’s Bank Credit to private sector surged by N30.15 trillion in 2021

Next Post

$400 Million in Liquidations in 24 Hours as Bitcoin plunges to $36K

Related News

CBN governor respond to APC 100M president form

CBN governor respond to APC 100M president form

by Rate Captain
May 9, 2022
0

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has responded to news that he joined the Presidential race....

The World’s First Crypto War

by Rate Captain
March 7, 2022
0

The Russia-Ukraine war issue has had substantial repercussions in the cryptocurrency universe to the point that it has been called...

Federal Government approves Abba Kyari’s Repatriation to US

by Rate Captain
March 3, 2022
0

The Federal Government has approved the request by the United States of America for repatriation of the suspended Commander of...

Senate Opposes the Imposition of VAT on Exclusive Legislative List

by Rate Captain
March 2, 2022
0

The Nigerian Senate has opposed the inclusion of Value Added Taxes (VAT) on the exclusive legislative list. This is according...

Next Post

$400 Million in Liquidations in 24 Hours as Bitcoin plunges to $36K

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Airtel Africa’s nine-month turnover hits $3.9billion.

Airtel Africa’s nine-month turnover hits $3.9billion.

February 3, 2023
Charges on cash transactions skyrocketed by POS agents.

Charges on cash transactions skyrocketed by POS agents.

February 3, 2023

Popular Story

  • CBN reduces over-the-counter withdrawals to N100k, N500k per week for individuals, companies

    CBN Directs Banks to Start Paying New Naira Notes Over the Counter.

    0 shares
    Share 0 Tweet 0
  • MTN Nigeria Annual profit hits N361.5 billion.

    0 shares
    Share 0 Tweet 0
  • Shell’s annual profit hits $39.9 billion.

    0 shares
    Share 0 Tweet 0
  • Naira depreciates to N749/$ in the parallel market.

    0 shares
    Share 0 Tweet 0
  • Charges on cash transactions skyrocketed by POS agents.

    0 shares
    Share 0 Tweet 0
RateCaptain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

?>