World Bulletin / News Desk
Crude oil prices rose to a two-week high of $108.35 per barrel on Monday, due to concerns over scarcity of oil supplies because of increasing tensions with Russia and Ukraine.
Brent crude oil prices were around $106.90-$107.85 on Friday and was $107.16 by the end of the day. On Monday, the prices rose to its highest level of $108.35 per barrel.
The price of U.S. West Texas crude oil rose to $104.55 a barrel, the highest since March 4. It is currently traded at around $104.29 a barrel.
Around 35 percent of EU's imports of crude oil come from Russia. A large portion of this oil comes via the Druzhba pipeline which passes through Ukraine. A potental disruption in this would have consequences for Europe.Last Mod: 14 Nisan 2014, 14:40