Oil rebounds from 16-week lows on prospects of tighter Russian crude sanctions

Oil Prices Rise on Russian Sanctions Risk

In early Asian trade on Thursday, oil prices recovered slightly from 16-week lows, with WTI rising to $62.09 and Brent trading at $65.68. Markets were buoyed by renewed expectations of tougher sanctions on Russian crude, even as caution over higher OPEC+ supply and weak U.S. economic signals capped upside. The two benchmarks had suffered across the prior three sessions. On Wednesday, Brent and WTI each fell roughly 1 %, with Brent closing at its…

Oil rebounds from 16-week lows on prospects of tighter Russian crude sanctions

TOKYO: Oil prices rose on Thursday, snapping a three-day losing streak and rebounding from 16-week lows on prospects of tighter sanctions on Russian crude, though expectations of higher supply from an OPEC+ output boost next month capped gains.

Why There's Oil Rise on Russia Sanctions Fears

Oil prices rose on Thursday following losses in the previous three sessions as the potential for tighter sanctions on Russian crude lent some support, though concerns about oversupply in the market capped gains. Brent crude futures gained 20 cents, or 0.31%, to $65.55 a barrel at 0631 GMT. U.S. West Texas Intermediate crude climbed by … The post Oil Rises on Russia Sanctions Fears; Oversupply Worries Cap Gains first appeared on Metropol Digital.

Oil rises on Russia sanctions fears after 3-day losing streak

Oil rises on Russia sanctions fears after 3-day losing streakOil prices rose slightly due to market adjustments and geopolitical concerns, despite oversupply and economic worries. The post Oil rises on Russia sanctions fears after 3-day losing streak first appeared on The Dispatch.