Vladimir Putin is partially mobilizing troops over Ukraine and the benchmark Brent crude oil is now already at $85.66, up 2.01%. The move which could see about 300,000 reservists being called into action comes after Ukraine’s recent stunning advance in recapturing areas from Russia. Putin remarked that the move is not a bluff and the development adds to worries of an escalating conflict and a tighter energy supply. On the other side of the spectrum, concerns about lower demand for oil also persist over weakening demand and global recession worries.
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