Oil rebounds as escalating Ukraine conflict raises supply concerns
SINGAPORE (Reuters) – Oil prices rebounded on Friday as fears of Western sanctions that could disrupt Russian oil exports outweighed the possibility of more Iranian supplies while reports of a nuclear plant fire in Ukraine spooked financial markets.
Global stocks fell and oil prices rose on signs of an escalation in the Russia-Ukraine conflict after reports of a fire at a Ukrainian nuclear power plant after an attack by Russian troops.
Fears of a potential nuclear disaster at the Zaporizhzhia plant, Europe’s largest, had spread alarm across world capitals before authorities said the fire in a building identified as a training centre had been extinguished.
