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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