Reported about 12 hours ago
Oil prices increased by nearly 3% to a three-month high as the U.S. introduced new sanctions against Russian oil producers, impacting every stage of oil production and distribution. Brent crude hit $79.76 per barrel, while U.S. West Texas Intermediate reached $76.57. The sanctions, aimed at disrupting Russian oil exports primarily to India and China, coincide with a surge in demand for heating oil due to extreme cold in the U.S. and Europe.
Source: YAHOO