Oil Futures Move Higher on Russia-Ukraine Concerns -- Market Talk

Dow Jones11-23

1104 ET - Oil futures turn higher after a negative start with the Russia-Ukraine war maintaining an increased risk premium ahead of the weekend. "Crude futures remain choppy as trader focus remains on the escalating tensions in Russia/Ukraine's conflict (both trading much larger and dangerous type of missile strikes)," BOK Financial's Dennis Kissler says in a note. Reports that OPEC and its allies will hold their Dec. 1 meeting online suggest the group will stick to production levels, he adds. "Even with OPEC staying the course, global crude supplies remain ample as long as no military interruptions are noted." WTI is up 1.3% at $71.04 a barrel, and Brent is 1.1% higher at $75.02. (anthony.harrup@wsj.com)

(END) Dow Jones Newswires

November 22, 2024 11:04 ET (16:04 GMT)

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