Oil Prices Rise as Pressure Mounts on Russia

Oil prices went up this week!

This is because of rising tensions regarding Russia and its war in Ukraine, which is making it harder to get oil from Russia.

Also, stronger economic news from the U.S. made investors more optimistic.

One possible cause of this is algorithmic traders jumping on the rising prices.

Additionally, the U.N. is increasing sanctions on Iran, adding to global tension.

Oil exports from the Kurdistan region in Iraq are set to restart, which may affect the market.