Prices also drew support from Putin’s plans to station tactical nuclear weapons in Belarus
London — Oil prices rose on Monday as investors assessed efforts by authorities to rein in concerns over the global banking system while Russian President Vladimir Putin’s plans to place tactical nuclear weapons in Belarus ratcheted up tensions in Europe.
“We continue to expect rising Chinese crude imports and demand, plus lower Russian production, to tighten up the oil market and lift prices over the coming quarters.” There are also hopes for extra support for bank funding, after reports that US authorities were in early-stage deliberations about expanding emergency lending facilities.The move is one of Russia’s most pronounced nuclear signals yet and a warning to Nato over its military support for Ukraine, which has called for a meeting of the UN Security Council in response. Nato slammed Putin for what it called his “dangerous and irresponsible” nuclear rhetoric.
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