Oil futures jumped on Tuesday, diverging from both equities and the US dollar against a backdrop of rising geopolitical tensions. In London, Brent crude for March delivery settled $1.93 higher at $88.20 per barrel. In contrast to Monday, crude broke its inverse correlation with the US dollar and traded in the opposite direction of major stock market indexes. Some traders and experts said the situation in Eastern Europe, where Russia and the US and its Nato allies are in an intense standoff over Ukraine, has helped keep petroleum supported.
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