Oil prices rise amid EU sanctions on Russia, strong US demand
Oil prices rise amid EU sanctions on Russia, strong US demand . (MENAFN) Oil prices saw an uptick on Thursday following the announcement of new European Union sanctions on Russia, which are expected to disrupt oil supplies, coupled with increased demand from the ...
América - MenaFN
(MENAFN) Oil prices saw an uptick on Thursday following the announcement of new European Union sanctions on Russia, which are expected to disrupt oil supplies, coupled with increased demand from the US, the world's largest consumer.



Brent crude, the international benchmark, rose by 0.14 percent to USD73.45 per barrel at 10:48 AM local time (0748 GMT), up from USD73.34 in the previous session. The US benchmark, West Texas Intermediate (WTI), also climbed 0.13 percent, reaching USD70.01 per barrel compared to the prior session's close of USD69.92.



On Wednesday, EU countries agreed on the 15th sanctions package in response to Russia’s ongoing assault on Ukraine. The new sanctions broaden the existing list of individuals and organizations subject to restrictions and target the operations of ships from third countries supporting Russia.



The EU’s latest sanctions package includes trade restrictions, financial penalties, and bans on the shipment of Russian crude and certain oil products to the EU by sea. It also restricts some Russian banks from the international SWIFT payment system and suspends the activities of numerous Russian broadcasting entities.

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https://menafn.com/1108992572/Oil-prices-rise-amid-EU-sanctions-on-Russia-strong-US-demand
2024-12-14
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(MENAFN) Oil prices saw an uptick on Thursday following the announcement of new European Union sanctions on Russia, which are expected to disrupt oil supplies, coupled with increased demand from the ...
Oil prices rise amid EU sanctions on Russia, strong US demand