Reported about 16 hours ago
Oil prices are hovering near a five-month high due to increasing global supply risks stemming from new aggressive US sanctions on Russia’s oil industry and potential tariffs anticipated from the incoming Trump administration. Brent crude is nearing $80 a barrel, with significant market fluctuations observed as US sanctions threaten to disrupt Russian oil exports and force Asian refiners to seek alternatives. The market is tightening due to these sanctions combined with colder weather boosting demand, although it's uncertain how severely these sanctions will impact overall oil supply.
Source: YAHOO