After the ongoing war between Russia and Ukraine and the attacks in the Middle East at the weekend, oil prices started the new week with an increase.
As the war in Ukraine prepared to fill its first month, oil prices rose as investors focused on developments in the Middle East. A 3 percent increase was observed in US-type crude oil and Brent oil. With the effect of the latest products, Brent oil was seen above $ 111.
While the Russia-Ukraine war continued to affect the oil markets, the news from Saudi Arabia also strained the market. The Arab coalition announced that nine unmanned aerial vehicles (UAVs) sent by the Houthis to the south of Saudi Arabia and a ballistic missile were shot down.
In terms of oil demand, China’s Covid measures are closely monitored. Experts said that China’s Covid strategy is uncertain, and the market is focused on whether OPEC will increase production.
