Crude oil prices gained nearly 2% on Thursday as the war between Russia and Ukraine notched up world concerns that the fighting might escalate to a nuclear level.
The price climb came after Russian President Vladimir Putin said Thursday Russia had launched a hypersonic medium-range ballistic missile attack on Ukraine and warned the West that Russia could hit any country’s military installations should their weapons be used against Russia.
As a result, West Texas Intermediate crude jumped $1.35 or 2% per barrel to close at $70.10 on the New York Mercantile Exchange.
Brent crude, the global standard, rose $1.42 or 1.95% and finished at $74.23 per barrel.
A majority of Oklahoma energy stocks made gains in Thursday’s day but Unit Corporation suffered a more than 19% loss for the day.
