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Russian bear pushes prices higher A week where prices eventually closed higher but it also felt like a week where the bloom had fallen from the rose, as the expectation of $90 crude oil drifted into hope rather than reality. Make no mistake oil prices have remained strong, primarily due to a marginal supply deficit and tight global oil inventories, but more recently because of continuing uncertainty surrounding Russia’s intentions for the future of Ukraine and how any conflict with the USA and Europe could impact oil flows.