Russia-Ukraine war, due to this, the price of increased oil, Will still get worse?

Since the Russian attack on Ukraine, there is a doubt at oil prices all over the world. The impact of the skyrocketing crude oil has started to fall on the common man's pocket. In such a situation, it is necessary to know whether Russia-Ukraine is responsible for increasing oil prices at the global level? There are also reasons for the Ukraine crisis.

The discussion of the European Union to ban the attack on Saudi oil facility and banning Russian crude oil brought oil prices. Top oil producer Saudi Arabia warned that the attacks of Yemenese rebels on state oil facility are creating a "direct threat" for global supply. Saudi's statement was enough to increase the price of oil.

Brent North C crude increased by 6.1 percent to $ 114.55 a barrel, in which WTI increased by 5.5 percent to $ 110.48. Even before Saudi comments, Commerce Analyst Carirst Chitch said, "As the new week of trading starts, oil prices have increased significantly."

He said, "The reason for booming oil prices is that the EU is considering banning oil imports from Russia." EU Foreign Minister accumulated to discuss with the pressing countries to ban the Russian oil. However, Germany is reluctant for this step considering its huge dependence on Russian gas. Meanwhile, Russia's spokesman Dimitri Peskov has warned that the ban on his oil "will be a decision which will affect everyone."

Drone strike

Even after attacking the oil refining plant related to Oil Veteran Company Saudi Aramco by YEMNE rebels, crude oil prices were bounced. Senior investment and market analysts of Hargreavs Lansdown said, "As a war in Ukraine is going on, there is another long and old struggle which is increasing panic around the price of oil. This is the Saudi Arabia Action with. These rebels have attacked a several refinery after one. "

He said, "It is officially a temporary case but still it has influenced Saudi Aramco pledge to increase production in the coming years." In the weekend, there is no information about anyone's casualties in the drone and missile attacks made by Yemen's Iran's supported rebels.