Reported about 17 hours ago
Oil prices have reached a more than four-month high, with Brent crude surpassing $81 a barrel, driven by expectations that new U.S. sanctions will significantly reduce Russian oil exports to major importers, China and India. Brent rose by 1.86% and West Texas Intermediate by 2%, reflecting a collective increase of over 6% since January 8. The sanctions will affect supply chains, pushing China and India to seek oil from other regions, thereby elevating prices and shipping costs.
Source: YAHOO