Oil prices rose on Thursday, with Brent crude exceeding $105 a barrel for the first time since 2014 after a Russian attack on Ukraine raised fears of a war in Europe that could disrupt global energy supplies.<\/p>\n\n\n\n
Brent crude prices rose $8.24, or 8.5 percent, to $105.08 a barrel by 1045 GMT.<\/p>\n\n\n\n
West Texas Intermediate crude prices rose $7.78, or 8.5 percent, to $99.88 a barrel.<\/p>\n\n\n\n
The two benchmarks hit their highest levels since August and July 2014, respectively.<\/p>\n\n\n\n
Russia is the largest supplier of natural gas to Europe and provides about 35 percent of European gas supplies.<\/p>\n\n\n\n
The United States and Iran are holding indirect talks in Vienna regarding Iran’s nuclear program that may lead to the lifting of sanctions on Iranian oil sales.<\/p>\n\n\n\n
Analysts warn of inflationary pressures on the global economy as a result of oil reaching $100 a barrel, especially in Asia, which imports most of its energy needs.<\/p>\n","protected":false},"excerpt":{"rendered":"
Oil prices rose on Thursday, with Brent crude exceeding $105 a barrel for the first time since 2014 after a Russian attack on Ukraine raised fears of a war in Europe that could disrupt global energy supplies. Brent crude prices rose $8.24, or 8.5 percent, to $105.08 a barrel by 1045 GMT. West Texas Intermediate …<\/p>\n","protected":false},"author":9,"featured_media":58819,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[8853,7804,7214,7156,6917,8431,8611,7004,8854,8110,6909],"class_list":["post-60882","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-backwardation","tag-baker-hughes","tag-biden","tag-brent","tag-eu","tag-iran","tag-oil-rigs-count","tag-opec-2","tag-russian-invasion-of-ukraine","tag-ukraine","tag-wti"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/60882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=60882"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/60882\/revisions"}],"predecessor-version":[{"id":60883,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/60882\/revisions\/60883"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/58819"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=60882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=60882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=60882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}