Oil Rises on Supply Risks
Oil rises in the early Asian trade. Prices are likely driven by a weaker dollar and concerns that intensifying strikes by Russia in Ukraine could lead to supply disruptions, the Phillip Securities Research Team writes in a note. "The broader outlook remains capped by supply overhang concerns and cautious demand expectations," Sucden Financial says in a note.
Front-month WTI crude oil futures are up 1.25% at $64.81/bbl; front-month Brent is 0.3% higher at $68.33/bbl.
Source: Marketwatch