Oil prices rise after news of Malaysian plane crash

Currently, US oil prices are at their highest level in more than a week following news of a Malaysian plane crash in the Ukraine hotspot.

Last night, the price of US WTI crude oil increased by 2% to 103.19 USD/barrel on the Nymex floor. Oil prices continued to increase after the trading floors closed.

Many traders are worried that the Ukraine crisis will have a major impact on oil prices. Therefore, many people rushed to buy crude oil after the news of the Malaysian plane crash continued to spread throughout the financial markets.

Brent crude for September delivery rose 0.8% to $107.89 a barrel on the ICE Futures Exchange. The price rose in morning trading mainly due to the expiration of the August contract.

During the day, Brent oil prices were flat again on news of the Malaysian plane crash.

Many other markets such as gold and stocks also reacted immediately to the news of the Malaysian plane crash.

A Malaysia Airlines Boeing 777 crashed in Ukraine near the Russian border while en route from Amsterdam to Kuala Lumpur, Malaysia, with 295 passengers and crew on board.

The Ukrainian military has confirmed that the plane crashed in the eastern part of the country. According to Ukrainian Interior Minister Anton Geraschenko, all 295 passengers and crew members were killed./.

According to vov