Crude oil prices continue to trade at seven-year highs amid colder weather, supply concerns and threat of a Russian attack on Ukraine. As of 1305 hours GMT on Friday, Brent, the international benchmark for two-thirds of the world’s oil, gained $0.82 (+0.92 percent) to reach $90.16 a barrel. On the other hand, the US West Texas Intermediate (WTI) price reached $87.26 a barrel, up by $0.65 (+0.75 percent). The price for Opec Basket was recorded at $87.35 a barrel without any change, Arab Light was available at $89.18 a barrel with an increase of 0.47 percent and the price of Russian Sokol jumped to $90.89 a barrel with 0.45 percent increase. Oil prices rose amid concerns that supplies could become tight due to Ukraine-Russia tensions. Moreover, cold weather in Japan and parts of northern China lifted demand and amid concerns over European supply disruptions from Russia. Oil has been on a remarkable run in recent weeks, driven by very bullish fundamentals as disrupted supply struggled to keep up with strong demand. The Opec+ and the IEA have referenced the resilience of demand since the emergence of Omicron in recent weeks and the inability of Opec+ to hit their production targets, or even come close, has led to the hike in prices.