Oil Prices Near $100/Barrel as Tensions Rise Around Russia-Ukraine
Houston, TX, February 23, 2022-Oil prices rose on Monday over the stand-off between Russia and the West over Ukraine, adding to supply concerns that have kept oil prices near $100 a barrel, reports Reuters.
“Brent crude futures jumped $2.74, or 2.91%, to $96.28 a barrel by 2 p.m. ET. U.S. West Texas Intermediate crude futures rose $2.79, or 3,06%, to $93.86 a barrel at 1915 GMT.
The price of oil impacts the flooring industry significantly, as oil is an ingredient in the production of carpet and vinyl, among other things.