The price of a barrel of West Texas Intermediate, a US reference variety, for delivery in May, increased by 3.50% to $103.13. Oil prices are rising again, with the WTI barrel breaking the symbolic $100 barrier.
This increase is due to the ongoing conflict, with no signs of de-escalation. As a result, the price of Brent North Sea oil is also around $116.
The rise in oil prices may have significant implications for the global economy and energy markets.