# Oil gains more than 5% for the week as Ukraine war intensifies

> Oil gained more than 5% for the week, with Brent closing at $75.17 and WTI at $71.24, as the Ukraine war intensified after the UK and US allowed Kyiv to strike Russia with their weapons. Chinese crude imports were also expected to rebound in November.

- Date: 2024-11-22 · published 2024-11-22T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/27588-oil-gains-more-than-5-for-the-week-as-ukraine-war-intensifies
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Escalating war risk to Russian supply and a rebound in Chinese crude demand support energy prices, which lift biofuel feedstock values and input costs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-02-23 | [Shipping braces for impact as Russia-Ukraine crisis intensifies](https://feedsoft.ai/events/42613-shipping-braces-for-impact-as-russia-ukraine-crisis-intensifies.md) | +10.4% | +21.2% |
| BRENT | 2026-03-02 | [Oil prices soar amid Strait of Hormuz fears as Iran war intensifies](https://feedsoft.ai/events/12016-oil-prices-soar-amid-strait-of-hormuz-fears-as-iran-war-intensifies.md) | +31.0% | +62.6% |
| BRENT | 2025-12-01 | [Oil climbs more than 1% on OPEC action, Ukraine attack](https://feedsoft.ai/events/21430-oil-climbs-more-than-1-on-opec-action-ukraine-attack.md) | +0.7% | -1.8% |
| BRENT | 2019-01-31 | [Futures Movers: Oil Gains, With U.S. Prices Up More Than 20% For The Month - Global Financial Market Review](https://feedsoft.ai/events/61009-futures-movers-oil-gains-with-u-s-prices-up-more-than-20-for-the-month-global.md) | +1.1% | +6.8% |
| BRENT | 2019-06-21 | [Oil rises, bringing rally to more than 9% this week](https://feedsoft.ai/events/12315-oil-rises-bringing-rally-to-more-than-9-this-week.md) | +2.7% | -5.6% |
| WTI | 2022-02-23 | [Shipping braces for impact as Russia-Ukraine crisis intensifies](https://feedsoft.ai/events/42613-shipping-braces-for-impact-as-russia-ukraine-crisis-intensifies.md) | +12.4% | +20.7% |
| WTI | 2026-03-02 | [Oil prices soar amid Strait of Hormuz fears as Iran war intensifies](https://feedsoft.ai/events/12016-oil-prices-soar-amid-strait-of-hormuz-fears-as-iran-war-intensifies.md) | +35.6% | +50.4% |
| WTI | 2025-12-01 | [Oil climbs more than 1% on OPEC action, Ukraine attack](https://feedsoft.ai/events/21430-oil-climbs-more-than-1-on-opec-action-ukraine-attack.md) | +2.7% | -1.1% |

## Sources

- cnbc.com: https://www.cnbc.com/2024/11/22/oil-rises-as-intensifying-ukraine-war-increases-supply-risk.html

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