Wagner Group’s Russia takeover sparks increase in Brent crude, WTI oil prices

The short battle between Russia and its mercenaries, the Wagner Group, sparked an increase in the price of Brent crude oil during the weekend.

At the start of the confrontation on Friday, Brent crude was trading around $72.36, but as the confrontation graduated from words to firepower, so did the price of crude appreciate.

Recall that the Wagner Group chief, Yevgeny Prigozhin, declared a “march of justice” seeking the removal of Russian Defence Minister, Sergei Shoigu, and the General Staff Chief Gen. Valery Gerasimov, amid reports that they were calling for the disbandment of Wagner troops.