SINGAPORE : Oil prices rose in early Asian trade on Monday after a failed mutiny by Russian mercenaries over the weekend raised concerns about political instability in Russia and the potential impact on oil supply from one of the world's largest producers.Brent crude futures rose 95 cents, or 1.3 per cent
SINGAPORE : Oil prices rose in early Asian trade on Monday after a failed mutiny by Russian mercenaries over the weekend raised concerns about political instability in Russia and the potential impact on oil supply from one of the world's largest producers.
A clash between Moscow and Russian mercenary group Wagner was averted on Saturday after the heavily armed mercenaries withdrew from the southern Russian city of Rostov under a deal that halted their rapid advance on the capital. RBC Capital Markets analyst Helima Croft said there were concerns that Putin would declare martial law, preventing workers from showing up to major loading ports and energy facilities, potentially halting millions of barrels of exports.
Goldman Sachs analysts said markets may price a moderately higher probability that domestic volatility in Russia leads to supply disruptions or has a sizable negative impact on oil supply in the future.
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