Oil prices on both sides of the Atlantic climbed on Aug. 4, as investors shifted their attention from worries about swelling supplies to concerns about ongoing violence in Libya and other global hotspots. Oil prices fell sharply last week, with the front-month of Brent crude hitting its lowest level since April, and traded lower early on Aug. 4 before bouncing back into positive territory.
Russia's War Against Ukraine
Reuters: Oil rebounds as global tensions raise supply disruption fears
Buyers were lured back by fears of growing oil supply disruptions due to escalating violence in Libya and Iraq, both major producers, and the crisis in eastern Ukraine, where Russian-backed separatists are fighting Ukrainian government troops.
