Oil prices jump as U.S. imposes sweeping sanctions against Russia oil industry
Oil prices jumped more than 3% on Friday as the U.S. Treasury Department announced sweeping sanctions against Russia's oil industry. Brent gained $2.82, or 3.67%, to $79.74 per barrel by 10:32 a.m. ET, while U.S. crude oil advanced $2.89, or 3.91%, to $76.81 per barrel.
Colder weather than expected is driving up global oil demand for heating purposes, leading to a rise in oil prices for the third consecutive week.
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Oil futures settled with a loss on Wednesday after the U.S. Energy Information Administration reported that commercial crude ...
Oil prices have started the year rallying aggressively, with Brent breaking $80 on Friday morning for the first time since October 7th.
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Oil prices settled higher on Tuesday, driven by concerns over limited supply from Russia and Iran because of Western ...
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