Have a lot to do with it. The price monitoring center of the National Development and Reform Commission predicts that oil prices will be greatly affected by the situation in Russia and Ukraine in the short term, and there is great uncertainty about the price trend. Do not rule out the possibility that oil prices will continue to rise. This will have an impact on related industries. In this price adjustment cycle, the oil prices of Brent in London and WTI in new york increased by 7.44% and 4.78% respectively.

Extended data:

Brent crude oil, Brent oil in English, is produced in Brent area of North Atlantic. Futures trading on the London Intercontinental Exchange and the New York Mercantile Exchange is the benchmark of market oil price. The price difference between West Texas Light Crude Oil (WTI) in the US market and Brent crude oil in the North Sea is still very large.

Brent is a light and low-sulfur crude oil, which is produced in Brent and Nizhnan oil fields in the North Sea and widely traded in futures, OTC swaps, forwards and spot spot markets. At present, more than 65% of the world's physical crude oil is linked to Brent system pricing.

ICE Brent crude oil futures contract is a kind of contract that can be delivered in kind, and the contract can be settled by cash transfer. The contract has the following characteristics: great flexibility: by providing futures contracts corresponding to the spot market, the oil industry can use futures cashing and basis trading to lock prices and arrange production, thus better controlling the time of buying and selling goods.

Price transparency: Real-time prices can be obtained through major data providers. Therefore, all participants can know the price situation in real time when trading. Small batch trading: Futures trading provides the possibility for small batch trading (multiple of 65,438+0,000 barrels), while the quantity standard in the spot market is higher.

Strong contract security: London Clearing House (LCH) is the other party of buyers and sellers trading on the London Stock Exchange. This ensures the financial soundness of each contract traded by (clearing members of the exchange), including delivery and settlement. LCH has no obligation or contractual relationship with its members' customers (that is, non-member users or settlement members of the exchange).

WTI, West Texas Intermediate crude oil, is a common crude oil in North America. Due to the global military and economic capabilities of the United States, WTI crude oil has become the benchmark for global crude oil pricing.

In order to unify the domestic crude oil pricing system, the United States takes the WTI crude oil contract listed in the New York Mercantile Exchange as the pricing benchmark. Crude oil, US dollar and grain are the three main means for the United States to influence and control the global economy and financial market.