Reported 1 day ago
Oil prices remained close to their four-month highs as attention shifts to the implications of new U.S. sanctions on Russian oil exports to India and China. Despite a slight decrease in Brent and WTI crude prices, analysts suggest that the impact of these sanctions may not be as severe on physical markets as anticipated. While sanctions could potentially eliminate a predicted surplus of 700,000 barrels per day, actual reductions may be less significant as Russia and buyers seek workarounds. Concerns over Chinese demand could also temper the effects of tighter supply.
Source: YAHOO