Tues. PM KTFA News Articles 4-5-22

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Samson » April 5th, 2022

Oil rises as supply uncertainty continues

5th April, 2022

Oil futures rose in early trade on Tuesday, as the prospect of more sanctions in the wake of alleged war crimes by Russian forces in Ukraine raised concerns about supply disruptions, while Iran nuclear talks faltered

Brent crude futures rose $1.58, or 1.5 percent, to $109.11 a barrel, while US crude futures rose $1.61, or 1.6 percent, to $104.89 a barrel at 04:28 GMT

Futures settled more than 3% on Monday due to the threat of more sanctions against Russia, and after a pause in Vienna over talks to revive the Iran nuclear deal, which could put more Iranian barrels on the market, Iran accused the United States of halting the talks

German Chancellor Olaf Schulz said the Western allies would agree to more sanctions against Moscow in the coming days

French President Emmanuel Macron also suggested sanctions on oil and coal, adding that there was “very clear evidence pointing to war crimes” by Russian forces

Crude oil fell about 13% last week after President Joe Biden announced a record release of US oil reserves LINK

Source: Dinar Recaps

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