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Oil prices to remain near $US100 a barrel

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Oil prices are set to remain at levels not seen since 2014 for the near-term, even if Russia and Ukraine tensions simmer down, because of strong demand for transport fuels outrunning already-limited spare capacity in the crude market.

On Tuesday, West Texas Intermediate rose above $US95 a barrel for the first time since 2014, just two days after Brent crude prices hit the same milestone.

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William McInnes covers markets from Sydney including editing the Markets Live blog. Connect with William on Twitter. Email William at w.mcinnes@afr.com.au

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    Original URL: https://www.afr.com/markets/commodities/oil-prices-to-remain-near-us100-a-barrel-20220215-p59wjn