Brent Crude Futures Rose More Than $7 to $105.07 a Barrel

Oil prices in Brent crude futures rose more than 7 dollars to 105.07 dollars a barrel with the opening of trading on Monday, and oil prices in US crude futures rose more than 7 dollars to 99.10 dollars a barrel.

The British oil company BP said on Sunday, February 27, that it had decided to exit its 19.75% stake in Russia’s Rosneft after Russia invaded Ukraine.

BP did not reveal how it plans to divest from its stake, which it said would result in a cost of up to $25 billion by the end of the first quarter.

Oil prices ended trading on Friday, February 25, with a decline after the morning rise, due to fears of possible disruption of international supplies after the imposition of sanctions on oil-exporting Russia.

Brent crude futures for April fell $1.15, or 1.2%, to close at $97.93 a barrel, after rising to $101.99, and the Brent contract for May fell $1.30, or 1.4%, to $94.12 a barrel.

US West Texas Intermediate crude fell $1.22, or 1.3 percent, to close at $91.59 a barrel, after hitting the session’s highest level at $95.64 a barrel.