International oil prices moved higher on Aug. 27, according to Bitget market data, with Brent crude rising above $88 a barrel and West Texas Intermediate crude futures moving above $83. Brent was up 2.57% on the day, while WTI futures gained 2.33%.
On the geopolitical front, three people close to the Kremlin said Russia is preparing to intensify military strikes on Ukraine after concluding that peace negotiations have reached a dead end. People familiar with the matter said Moscow is weighing stronger conventional ballistic missile attacks on infrastructure targets in Kyiv and other Ukrainian cities.
The same sources said existing negotiation frameworks have effectively collapsed and that the two sides are back at square one. They also said Vladimir Putin will not end the war because of sanction-driven economic pressure or Ukrainian attacks on Russian refineries and logistics networks. According to the sources, Moscow increasingly views Ukrainian airstrikes as attacks by NATO countries because alliance members provide weapons and intelligence to Kyiv. One source added that the current phase of hostilities has not yet reached the peak of military escalation.
International oil prices kept climbing on Aug. 27, according to Bitget market data.
Brent crude rose above $88 a barrel, up 2.57% on the day, while West Texas Intermediate crude futures moved above $83 a barrel, up 2.33%.
Sources close to the Kremlin say Russia is preparing to intensify strikes
On the news side, three people close to the Kremlin said Russia is preparing to step up its military attacks on Ukraine after deciding that peace agreement talks have fallen into a stalemate.
People familiar with the matter said Russia is considering stronger conventional ballistic missile strikes on infrastructure targets in Kyiv and other Ukrainian cities.
The sources said all negotiation frameworks have effectively broken down and that the two sides are back at square one.
They also said Putin will not end the war because of the economic pressure created by sanctions or because of Ukrainian attacks on Russian refineries and logistics networks.
The sources added that Moscow increasingly sees Ukrainian airstrikes as attacks by NATO countries, because NATO members provide Kyiv with weapons and intelligence.
One source said the current stage of hostilities has not yet reached the peak of military escalation.
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