Crude oil prices rebounded for the first time in 3 days as Russia raised the price of gas it sells to the Ukraine for a second time in 3 days. With Russia’s gas company Gazprom setting the new price at US$485/1000 cubic metres, Ukraine has to pay 80% more of the price before Monday’s increase. The front-month contract for WTI crude oil gained +0.67% and closed at 100.29 while the Brent crude contract jumped to as high as 106.32 before ending the day at 106.15, up +1.30%.
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Oil Prices Soared as Russia Hiked Gas Price. ECB Signaled QE
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