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Market analysis: Tariffs and conflict risks are short-term catalysts for the rise in oil prices.
Jin10 data reported on September 12th, as the UK announced new sanctions against Russia and the US urged Europe to impose tariff pressure on Russian oil buyers, crude oil futures are rebounding from the previous day's fall. BOK Financial analyst Dennis Kissler stated in a report: “The Russia-Ukraine conflict remains a bullish factor for oil prices, as Ukraine attacked a key Russian oil export facility late last night. Russia exports nearly 7 million barrels of crude oil daily, so any disruption from tariffs or the conflict could serve as a catalyst for driving oil prices up in the short term.”