oil markets

March 2, 2022
Oil markets in turmoil due to Russia war on Ukraine.

There’s no respite. This is a dramatic moment for the market and the world and supplies.

John Kilduff, partner at Again Capital, on the volatile oil markets due to Russia’s war on Ukraine.
  • Kilduff continued: “It’s clear the world is going to have to stand up to Russia by foreclosing its oil exports."
  • Nations belonging to the International Energy Agency announced Tuesday the release of an additional 60 million barrels of oil into the market place; the U.S. will release 30 million barrels as part of that amount.
  • Context: The U.S. uses just under 20 million barrels of oil a day.
  • Why It Matters: The price of oil continues to rise – which will impact not only energy prices around the world, but also anything that requires the use of petroleum products in its manufacturing.

Oil prices jump nearly $5 per barrel as Russia’s war on Ukraine sparks supply fears

by Jenna Lee,