Oil rises US$1 as EU agrees further Russia sanctions

Quick Summary:

Oil prices rose more than US$1 on Wednesday after the European Union agreed to an additional round of sanctions threatening Russian oil flows that could tighten global crude supplies.

Brent crude futures were up US$1, or 1.39%, to US$73.19 a barrel by 1:25 p.m.ET.

"I welcome the adoption of our 15th package of sanctions, targeting in particular Russia's shadow fleet", European Commission President Ursula von der Leyen said on X.

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Category: EconomyBusiness

Markets: MalaysiaChinaUkraine

Topics: Commodities EnergyDemand CrudeMarket ChinaEconomy OPECForecast /Business/ OilPrices GlobalSupply RussiaSanctions ShadowFleet

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-12 @ 06:48:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 556 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © The Star

News ID: 24363883

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