Brent Crude Stays Supported Above $100 Per Barrel

25 Feb 2022 , 02:34 PM

Crude oil futures stayed supported in volatile trading today as Russia continued its invasion of Ukraine, keeping overall undertone in oil market bullish. The commodity also tracked a bounce back in global equities as the US markets moved up on bargain buying last night. Asian stocks rallied on Friday. Chinas Shanghai Composite Index gained 0.63% while Japanese benchmark Nikkei 225 spiked around 2%. Wall Street moved up Thursday even as the West imposed retaliatory sanctions on Russia. Major indices in the US had tested multi month lows and the rally was led by tech heavy NASDAQ which bounced off bear market territory. WTI Crude oil currently trades up 1.23% at $93.95 per barrel while Brent Crude futures are up 1.79% at $100.87 per barrel.

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