Russia-Ukraine Tensions Prop Up Crude Oil Prices Above $82.50

Crude oil prices have remained above $82.50 per barrel despite a slight pullback in Friday's Asian session. The price of West Texas Intermediate (WTI) crude has been trading near $82.70 per barrel after two consecutive days of gains.

The escalating tensions between Russia and Ukraine are contributing to the stability in crude prices, as investors shift their attention away from developments in the Middle East. Recent comments from Russian President Vladimir Putin indicate that talks with Ukraine have broken down, and Russia is preparing for a worsening of the conflict.

Ukrainian attacks on Russian refineries and ports are damaging essential energy facilities, creating risks to Russia's ability to ship both crude oil and refined products to global markets. This could potentially support prices if export flows are materially disrupted.