The Russian president's remarks come as Ukrainian civilians in besieged areas of the country continue to flee brutal attacks by Russian forces.
Brent crude, the basis for international pricing, was up 66 cents to $109.99 per barrel in London.
Both it and U.S. benchmark crude are up more than 40% for 2022 so far, though they remain below the peaks they hit earlier this week, when U.S. oil briefly topped $130.Oil's back-and-forth moves are just some of the waves buffeting markets as volatility has become the norm since Russia's invasion of Ukraine, which has added to worries about how high prices will go for oil, wheat and other commodities.
Investors already were on edge because high inflation is pushing central banks to raise interest rates for the first time since the pandemic began and halt programs launched to support the global economy. from a year earlier, the sharpest spike since 1982. The reading was largely within expectations and did not include the most recent surges for oil and gasoline prices. It also didn't hit the 8% threshold that might trigger alarm.
The Federal Reserve is expected to raise its key short-term rate by a quarter of a percentage point next week, the first hike since 2018. Higher rates slow the economy, and the Fed is trying to raise them enough to tamp down inflation but not so much that it causes a recession. In other trading, the yield on the 10-year Treasury, which tracks expectations for inflation and economic growth, wavered immediately after the inflation report's release. It rose to 2% from 1.94% late Wednesday. Early Friday it was at 2.02%.
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