NY Crude Oil Market Futures Price Temporarily Rise to $ 96 Level for the First Time in Approximately 7 and a Half Years

In the New York crude oil market on the 22nd, Russian President Vladimir Putin unilaterally approves the independence of the region controlled by pro-Russian factions in eastern Ukraine, reducing supply from oil-producing countries from Russia. The international crude oil futures price temporarily rose to the $ 96 level per barrel for the first time in about seven and a half years.

In the New York crude oil market on the 22nd, the futures price of WTI, which is an international indicator of crude oil prices, temporarily rose to the $ 96 level per barrel for the first time in about seven and a half years.

Behind the rise in prices is the supply of crude oil from Russia, an oil-producing country, following Russia's President Vladimir Putin unilaterally approving the independence of the region virtually controlled by pro-Russian factions in eastern Ukraine. There may be growing concern that it may decrease in the future.

WTI futures prices fell to the $ 62 level at the beginning of December last year due to caution over the new coronavirus Omicron strain, but then began to rise to $ 95 on the 14th of this month. I was wearing a stand.

If the price continues to rise, there are concerns about the impact on people's lives, such as gasoline prices in Japan.

Market officials said, "Many investors are concerned that the supply of crude oil from Russia may decrease depending on the content of sanctions imposed on Russia by Western countries. Crude oil prices will depend on the content of sanctions and Russia's response for the time being. It looks like it will be done. "

The London market also temporarily rose to the $ 99 level for the first time in 7 years and 5 months

Also, in the London market on the 22nd, the future price of crude oil from the North Sea, which is one of the indicators of the international crude oil price, temporarily rose to the $ 99 level per barrel for the first time in 7 years and 5 months since September 2014. It has risen.

Market officials said, "Europe relies on Russia for most of its crude oil imports, so there is a sense of caution that supply will be affected depending on the content of sanctions imposed on Russia by Western countries, leading to price increases. I'm talking.

In Europe, rising energy prices have already led to record inflation, and continued rises could weigh on the economic recovery from the Corona scourge.