Oil Falls 3% as Russian Troops Move Back

CNBC TV Interview 2/15/22
February 15, 2022
CNBC TV Interview 2/16/22
February 16, 2022

Oil Falls 3% as Russian Troops Move Back

US benchmark oil prices are falling sharply, down 3% at $92.62 a barrel as some Russian troops begin to move back and away from the Ukraine border after completing military exercises. While the news has quickly put some risk appetite back into financial markets, analysts say it should be taken with caution. “Geopolitical concerns are far away from fading,” says Peter Cardillo at Spartan Capital. Oil markets will next turn their attention to weekly US inventory data, first from trade group API this afternoon, followed by official EIA data tomorrow.