Oil prices finished higher on Thursday with both the US crude benchmark

Oil prices finished higher on Thursday with both the US crude benchmark and Brent exceeding $100 a barrel in intraday trading.

Gu Shuangfei, deputy director with the consultancy department of Nanhua Futures, said low capacity, low investment and low inventory have been keeping oil prices high ever since the outbreak of COVID-19. The Russia-Ukraine situation is only expected to further increase the global oil price in the near future.