Oil to rise against the backdrop of the crisis in Ukraine and the negotiations between Russia and Saudi Arabia
Crude oil rose to $ 49.50 a barrel in early session today after the Ukrainian army suffered one of its biggest losses today, Saudi Arabia and the Russian energy giant Gazprom began discussions between OPEC and producers outside OPEC.
Futures for March delivery rose 60 cents to $ 49.44 a barrel, having previously noted down with $ 1.18, or about 2%. Brent fell earlier to below $ 55 a barrel, or approximately 3%.
Yesterday evening, oil inventories in the US saw a record high, as expectations for 413 million. Barrels did not materialize, and the values that were reported were 417.9 million barrels.