# Oil rises 2% on supply worries as Russia-Ukraine war escalates

> Brent rose $1.42 to $74.23 and WTI gained $1.35 to $70.10 as supply worries grew from the Russia-Ukraine war. Sources said OPEC+ may push back output increases again at its December 1 meeting due to weak demand.

- Date: 2024-11-21 · published 2024-11-21T12:00:00.000Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/27585-oil-rises-2-on-supply-worries-as-russia-ukraine-war-escalates
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Escalating Russia-Ukraine tensions and possible OPEC+ delays add upside risk to energy costs, which can support soyoil and biofuel demand.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-02-22 | [Oil settles near 2014 high on Russia-Ukraine escalation \| Reuters](https://feedsoft.ai/events/42857-oil-settles-near-2014-high-on-russia-ukraine-escalation-reuters.md) | +6.1% | +23.6% |
| BRENT | 2025-03-31 | [Oil prices climb 2% to five-week high on Russia, Iran supply worries](https://feedsoft.ai/events/25748-oil-prices-climb-2-to-five-week-high-on-russia-iran-supply-worries.md) | -9.7% | -11.0% |
| BRENT | 2022-04-18 | [Oil rises over 1% as Libya outages add to Russia supply fears](https://feedsoft.ai/events/42013-oil-rises-over-1-as-libya-outages-add-to-russia-supply-fears.md) | -4.8% | +0.5% |
| BRENT | 2023-08-07 | [The Commodities Feed: Russia-Ukraine tensions add to oil supply risks \| articles \| ING THINK](https://feedsoft.ai/events/34496-the-commodities-feed-russia-ukraine-tensions-add-to-oil-supply-risks-articles.md) | +0.6% | +2.8% |
| BRENT | 2025-08-21 | [Oil rises 1% on stalled Russia-Ukraine peace talks, strong US demand \| Reuters](https://feedsoft.ai/events/23491-oil-rises-1-on-stalled-russia-ukraine-peace-talks-strong-us-demand-reuters.md) | +1.0% | +2.0% |
| WTI | 2022-02-22 | [Oil settles near 2014 high on Russia-Ukraine escalation \| Reuters](https://feedsoft.ai/events/42857-oil-settles-near-2014-high-on-russia-ukraine-escalation-reuters.md) | +5.3% | +23.0% |
| WTI | 2025-03-31 | [Oil prices climb 2% to five-week high on Russia, Iran supply worries](https://feedsoft.ai/events/25748-oil-prices-climb-2-to-five-week-high-on-russia-iran-supply-worries.md) | -10.5% | -9.7% |
| WTI | 2022-04-18 | [Oil rises over 1% as Libya outages add to Russia supply fears](https://feedsoft.ai/events/42013-oil-rises-over-1-as-libya-outages-add-to-russia-supply-fears.md) | -4.0% | +3.4% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-firm-geopolitical-tensions-raise-supply-concerns-2024-11-21/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.