Oil prices moved higher today as escalating tensions in the Russia-Ukraine conflict fueled fears of supply disruptions in the global market.
Attention is now turning to upcoming U.S. jobs data, which could play a role in determining whether interest rate cuts are introduced. Market watchers believe the figures will influence investor sentiment and could affect the demand outlook for crude oil.
In early trading today, Brent crude climbed to $68.52 a barrel, while U.S. West Texas Intermediate rose to $65.02. Trading in WTI futures had paused the previous day due to the Labor Day holiday in the United States.
