Oil Rises as Investors Focus on Lower Supply From Russia, Libya
Posted: Thu Apr 21, 2022 3:53 pm
LONDON—Oil prices rose on Thursday amid concerns about supply as the European Union (EU) mulls a potential ban on Russian oil imports days after diminished supplies from Libya rocked the market. Brent crude futures rose $1.13, or 1.1 percent, to $107.93 a barrel at 1228 GMT. U.S. West Texas Intermediate (WTI) crude futures gained 81 cents, or 0.8 percent, to $103 a barrel. Analysts said market volatility is likely to pick up again soon, with the EU still weighing a ban on Russian oil for its invasion of Ukraine, which Moscow calls a “special military operation.” Libya, a member of OPEC, on Wednesday said the country was losing more than 550,000 barrels per day of oil output due to blockades at major fields and export terminals. ...
Source: https://www.theepochtimes.com/oil-rises ... 18311.html
Source: https://www.theepochtimes.com/oil-rises ... 18311.html