Oil Rises Amid Global Tensions #

Oil prices increased during the morning Asian session due to escalating tensions in the Russia-Ukraine conflict. The instability in the region raises concerns over the potential disruption of Russian oil exports, which could significantly affect global supply. At the same time, China’s increasing oil demand contributes to a bullish market sentiment; crude imports are projected to reach near-record levels by the end of November. As a result, front-month WTI crude oil futures are up 0.4%, trading at $69.03 per barrel, while Brent crude futures also increase by 0.4% to $73.08 per barrel.