Crude hits 6-month high as new US sanctions trigger global supply fears

Quick Summary:

The gains followed a 3 per cent rise on Friday following the initial announcement of the new sanctions.

Brent crude, the international benchmark, rose as much as 1.9 per cent to $81.29 a barrel in London, beyond the $80.93 high of October last year.

Amrita Sen, director of research at consultancy Energy Aspects, agreed, saying some Chinese refiners were in “panic mode” following the announcement.

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Article Details

Author / Journalist: Malcolm Moore

Category: MarketsFinanceInvesting

Markets: United StatesChinaIndiaOmanUkraine

Topics: Crude Announcement Indian Cent Prices Refiners Russian Sanctions Financial Been Staunovo

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-13 @ 13:00:20 (1 days ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 494 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 25106832

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